Oscient predicts bullish earnings

Oscient Pharmaceuticals Corp. said today that it expects first-quarter revenue to more than double following the acquisition of the cholesterol reducer Antara from Reliant Pharmaceuticals.

The company expects quarterly revenue of about $23 million, up from $11 million in total revenue in the year-ago first quarter. Analysts surveyed by Thomson Financial expect revenue of $21.6 million.

Oscient said about $12 million will come from Antara, and about $11 million will come from the pneumonia and bronchitis treatment Factive. In the year ago period, the company booked Factive sales of $9.2 million.

The company will report first-quarter earnings in early May.

Oscient shares rose 16 cents, or 2.5 percent, to $6.50 in morning trading on the Nasdaq Stock Market. (AP)