said second-quarter earnings were about half what it posted a year ago, but they still beat Wall Street analysts' forecasts.

The Miami-based generic drug company earned $31.7 million, or 16 cents a share, compared with $67.9 million, or 33 cents a share, last year. Analysts were expecting earnings of 14 cents.

Second-quarter revenue was $206.4 million, down from $301.8 million, as the price fell on its generic version of Taxol, which it sells as Onxol.

Ivax closed at $11, up 5 cents, Thursday, prior to the release of the earnings report.