Drug manufacturer profits, cuts jobs

Saturday, February 28, 2009

MARLBOROUGH, Mass.--Drug manufacturer Sepracor on Jan. 28 reported earnings of $88.4 million for the last quarter of 2008, compared with losses of $5 million for the same period in 2007. For the full year, the company earned $515.1 million, compared to $58.3 million in 2007. Sales of Xopenex fell 3% to $137.7 million for the last quarter of 2008. Brovana had sales of $19.3 million. Sepracor officials said they plan to lay off 20% of the company’s workforce - about 530 people - and will refocus efforts on respiratory drugs, which are less expensive to promote than its popular sleep drug, Lunesta.