Upjohn Co. first-quarter profit rose 12%, largely...
From Times Wire Services
Upjohn Co. first-quarter profit rose 12%, largely because of a one-time infusion of revenue from terminating a co-marketing agreement with another company. The Kalamazoo, Mich.-based pharmaceutical and chemical company, struggling to overcome competition from cheaper generic versions of its products, said a strong increase in overseas drug sales was offset by a decline in U.S. sales.
The maker of Kaopectate, Motrin and Rogaine said it earned $151.6 million, or 85 cents per share, up from $134.8 million, or 76 cents per share for the same quarter of 1994. Revenue gained 7% to $866.74 million from $810.97 million a year ago.
