Five more drug companies Thursday reported solid...
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Five more drug companies Thursday reported solid gains in first-quarter profits, meeting or beating Wall Street experts’ predictions.
The five attributed their good fortune to greater sales of their key medicines. They also said the rising value of foreign currencies against the dollar boosted sales overseas .
These are the same reasons cited by a number of other drug makers that reported similar profit gains over the past week. Reporting earnings Thursday were SmithKline Beecham of England; Bristol-Myers Squibb Co. of New York; Schering-Plough Corp. of Madison, N.J.; Warner-Lambert Co. of Norris Plains, N.J., and American Home Products Corp. of Madison, N.J.
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