Abraxis swings to 1Q profit on Abraxane sales

Updated 106 days, 21 hours 15 minutes ago

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(AP)  -  Abraxis BioScience Inc. said Thursday it swung to a first-quarter profit , helped by higher sales of the breast cancer treatment Abraxane.

The company earned $4.3 million or 11 cents per share, compared with a loss of $5.7 million, or 14 cents per share, during the same period a year prior. The company had an operating loss of $2.5 million, compared with a loss of $9.5 million a year ago. About $6.8 million on interest income pushed it into the black in the latest quarter.

Revenue rose 14 percent to $82.1 million from $71.9 million. Abraxane sales rose 13 percent to $79.9 million during the quarter.