Insmed Inc. Announces Fourth Quarter Profits due to Cutting Expenses.

Insmed Inc reported fourth quarter profits due to research and development cuts. Insmed Inc. trades on the “NASDAQ” under the Stock Symbol “INSM”. For the Latest information regarding Insmed Inc, “INSM”, make sure to visit the Most Exclusive and In Depth newsletter website at:   http://www.wallstreetgrand.com/.

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Insmed Inc. (NASDAQ:INSM) on Monday reported a fourth-quarter profit as it cut research and development expenses following the sale of its biosimilars unit. The biopharmaceutical company earned $2.3 million, or 2 cents per share, compared with a loss of $4 million, or 3 cents per share, during the period a year prior. Revenue fell to $2.5 million from $2.9 million.

The company said operating expenses fell $4.5 million, mainly on lower manufacturing expenses from research and development. The company sold assets, including its biosimilar unit, to Merck & Co (NYSE:MRK) as part of a $130 million deal in 2009. Biosimilars are copies of biotech-based drugs.

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