KING PHARMACEUTICALS POSTS 3Q PROFIT

Drug development company King Pharmaceuticals Inc. on Wednesday reported a fiscal third-quarter profit, reversing a year-ago loss, driven by a surge in sales of branded drugs. King reported net income of $121.9 million, or 50 cents per share, versus a year-ago loss of $8 million, or 3 cents per share. Stripping out special items, King reported a profit of $125.4 million, or 52 cents per share. Sales rose 31 percent to $518 million from $394.7 million last year.

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