Health Winners & Losers: Vivus
05/23/08 - 06:22 PM EDT
Elizabeth Trotta
Another stock in the red, Alkermes (ALKS Quote - Cramer on ALKS - Stock Picks) gave up 87 cents, or 6.4%, to $12.75 on Friday. The company said Thursday after the market close that it lost $18.3 million, or 19 cents a share, vs. a year-ago profit of $3.5 million, or 3 cents a share, a year ago. Revenue edged down to $64.2 million from $64.8 million.
Harmed by Eli Lilly's (LLY Quote - Cramer on LLY - Stock Picks) decision to end development of their partnered inhaled insulin product earlier this year, Alkermes also said it expects a loss in 2009. The company expects to lose between 11 and 16 cents a share, on revenue of $175 million to $200 million. Analysts surveyed by Thomson Reuters had pegged a profit of 20 cents a share on $245 million in revenue.
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