(FRX) expects 2010 earnings, excluding items, to be at the high end of its previous range of $3.40 to $3.50 a share.
The projection comes after the company reported third-quarter earnings that significantly beat Wall Street expectations. Analysts currently expect earnings for the year ended March 31 to be $3.46 a share, according to Thomson Reuters.
The fourth quarter is likely to include heavy spending related to fibromyalgia drug Savella, blood-pressure treatment Bystolic, and Daxas, which is in development for chronic obstructive pulmonary disease, said Chief Financial Officer Frank Perier in a conference call.
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