beat Wall Street's expectations for the third quarter, even as research and development spending increased 27.5% from the year-ago period.
The Miami-based drug maker reported net income for the third quarter of $30.7 million, or 19 cents a diluted share, compared with $16.9 million, or 11 cents a share, in the same period a year ago.
Wall Street expected the company to earn 15 cents a share for the quarter, according to a
First Call/Thomson Financial
survey of six analysts.
Revenue rose 11.7% to $182.4 million from $163.3 million in the year-ago period.