(Reuters) - Spectrum Pharmaceuticals posted a better-than-expected quarterly profit on strong sales of its colon cancer drug, Fusilev.
First-quarter net income rose to $47 million, or 71 cents a share, from $13 million, or 23 cents a share, a year ago.
Excluding items it earned 40 cents a share. Revenue rose 36 percent to $60 million, helped by a 46 percent jump in Fusilev sales.
Analysts on average had expected the company to earn 27 cents a share on revenue of $56.9 million, according to Thomson Reuters I/B/E/S.