Pharmacia Matches Estimates on 10% Sales Increase

Drug-maker Pharmacia ( PHA) earned $197 million, or 15 cents a share, from continuing operations in its fourth quarter on a 10% increase in pharmaceuticals sales.

The company, which is reporting Monsanto's agricultural operations as a discontinued operations, said it earned an adjusted $476 million, or 36 cents a share, in the quarter, matching analysts' forecasts.

Pharmacia reported strong results for several of its main drugs, including arthritis treatment Celebrex, which posted a 17% increase in fourth-quarter sales to $904 million, and glaucoma treatment Xalatan, which posted a 15% increase in fourth-quarter sales to $226 million.

Overall net sales for the company's pharmaceutical businesses were $3.7 billion in the fourth quarter, a 10% increase over the fourth quarter of 2000, or 12% excluding the impact of foreign exchange.

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