Pharmacia Hits Estimate

Pharmacia (PHA Quote) said it earned 32 cents a share in the first quarter excluding certain items, in line with analysts' expectations.

A year earlier the company reported a loss of 14 cents a share. Net sales climbed 8% to $4.52 billion from $4.17 billion.

The drugmaker noted that prescription pharmaceutical sales climbed 15% in the period, helped in part by strong gains from its Celebrex painkiller, whose sales climbed 24% to $649 million.