NEW YORK (Thomson Financial) - Pharmaceutical Product Development Inc.
reported late Tuesday first-quarter adjusted earnings of $52.7 million, or 44
cents a share, exceeding the mean estimate of analysts polled by Thomson
Financial of 43 cents a share.
Revenue for the period ended March 31 rose 19.3% to $396.2 million from last
year's $332.3 million. Analysts had expected revenue of $369.3 million for the
quarter.
The company said revenue for the quarter included a $15 million milestone
payment triggered by the Food and Drug Administration's acceptance of Takeda
Pharmaceutical Co.'s new drug application for alogliptin, a treatment for type 2
diabetes.
The stock closed the regular session at $39.45.
Wanfeng Zhou
wz/gm
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