HAWTHORNE, N.Y. — Taro realized a 21% increase in net sales for its first quarter, the drug maker said.
The company said it raked in net sales of $107.7 million, an increase of $18.7 million. Diluted earnings per share totaled 58 cents, compared with 21 cents in the prior-year period.
Operating income for Taro increased 84.4% to $33.4 million, or 31% of net sales, compared with $18.1 million, or 20.3% of net sales, in 2010.
During the period, Taro received three abbreviated new drug applications from the Food and Drug Administration.