Sciele Pharma raises 2008 view
Sciele Pharma Inc said it is raising its fiscal 2008 earnings and revenue outlook to reflect the acquisition of a product from Verus Pharmaceuticals and a marketing agreement with Sanofi-Aventis Sciele acquired the Twinject epinephrine auto-inject...
By Agencies |
Sciele Pharma Inc said it is raising its fiscal 2008 earnings and revenue outlook to reflect the acquisition of a product from Verus Pharmaceuticals and a marketing agreement with Sanofi-Aventis Sciele acquired the Twinject epinephrine auto-injector, which treats severe allergic reactions and anaphylaxis, and other related products under development for $29 million from Verus.
In February, the company entered into a agreement with Sanofi-Aventis to market Allegra ODT and Allegra Oral Suspension for seasonal allergies in the pediatric market in the United States. Under the exclusive three-year agreement, Sciele will be responsible for marketing the products and will share revenue on both products.
Sciele now sees earnings of $1.99 to $2.11 a share, on revenues of $447 million to $470 million. Its prior view was earnings of $1.97 to $2.07 a share, and revenue of $440 million to $455 million. Analysts on average are expecting the company to earn $1.99 a share before special items, on revenue of $442.2 million for 2008, according to Reuters Estimates. Shares of Sciele Pharma closed at $18.01 on Wednesday on Nasdaq.
In February, the company entered into a agreement with Sanofi-Aventis to market Allegra ODT and Allegra Oral Suspension for seasonal allergies in the pediatric market in the United States. Under the exclusive three-year agreement, Sciele will be responsible for marketing the products and will share revenue on both products.
Sciele now sees earnings of $1.99 to $2.11 a share, on revenues of $447 million to $470 million. Its prior view was earnings of $1.97 to $2.07 a share, and revenue of $440 million to $455 million. Analysts on average are expecting the company to earn $1.99 a share before special items, on revenue of $442.2 million for 2008, according to Reuters Estimates. Shares of Sciele Pharma closed at $18.01 on Wednesday on Nasdaq.
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