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What: Shares of specialty pharmaceutical company Impax Laboratories
So what: It was a big quarter for Zomig, the migraine treatment that Impax licenses from AstraZeneca
The results topped Wall Street analysts' estimates on both the top and the bottom line. On average, analysts had expected $0.45 in per-share earnings on $162 million in sales.
Now what: As CEO Larry Hsu pointed out, the company currently has 46 generic drugs and 40 "internally developed or partnered products" in the works, so there's a lot going on at Impax for investors to potentially look forward to. As far as the financial results for the current year, though, the company's outlook remained relatively the same as what it delivered last quarter. The only tweak that it made to the full-year outlook was to update its potential patent-litigation spending from a flat $10 million expectation to a range of $10 million to $13 million.
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Fool contributor Matt Koppenheffer has no financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter, @KoppTheFool, or on Facebook. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.
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