Newspaper article The Record (Bergen County, NJ)

Woodcliff Lake Drug Firm Posts Gain in 4th Quarter

Newspaper article The Record (Bergen County, NJ)

Woodcliff Lake Drug Firm Posts Gain in 4th Quarter

Article excerpt

WOODCLIFF LAKE -- Eagle Pharmaceuticals Inc. Thursday said fourth- quarter net income swung to a profit of $1.2 million, or 7 cents, after posting a loss of $5.5 million, or 39 cents, from the same period a year earlier, lifted by a milestone payment involving a leukemia treatment.

Revenue at the pharmaceutical company climbed more than threefold to $18.2 million from $5.6 million for the three months ended Dec. 31, 2014.

Product sales nearly doubled to $2.9 million compared with $1.5 million for the three-month period of a year ago.

Earnings were affected by a $15 million milestone payment from Teva Pharmaceuticals, triggered when both companies received approval from the Food and Drug Administration for Bendeka -- a drug used to treat patients with chronic lymphocytic leukemia, or indolent B-cell non-Hodgkin lymphoma. …

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