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raised its earnings and revenue guidance after its merger with

Ascent Pediatrics

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was approved by Ascent shareholders on Thursday.

In the third quarter, the company now expects revenue of $56 million and earnings of 49 cents per share, up from previous expectations of $49 million and 48 cents per share. For the fourth quarter, revenue is expected to be $57.5 million, up from $53 million, while earnings are expected to be 54 cents, up 1 cent from previous expectations.

The Arizona-based pharmaceutical company said its new revenue forecast for 2002 is $210.5 million, up from $193.5 million. It raised its 2002 earnings guidance to $1.93 from $1.90.