News / Business
King Pharmaceuticals Stocks (NYSE:KG) 3Q Net Falls 48%
Pharmaceuticals Stocks
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King Pharmaceuticals, Inc. (NYSE:KG) rose 2.85% to $10.48 after it said Thursday its third-quarter profit fell to $42 million, or 17 cents a share, from $82 million, or 34 cents a share, in the year-ago period. Total revenues rose 19.3% to $463 million. The Bristol, Tenn.-based pharmaceutical company said adjusted earnings were 29 cents a share. Analysts surveyed by FactSet Research had expected, on average, earnings of 26 cents a share on revenue of $447 million.
King Pharmaceuticals, Inc. is a vertically integrated pharmaceutical company that performs basic research and develops, manufactures, markets and sells branded prescription pharmaceutical products.
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