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MEDICAL
Biovail net rises 88%, ups views
The Canadian drug maker expects to earn $1.25 to $1.33 a share in 2001 vs. the Street's forecast of $1.26. It earned 30 cents a share in the second quarter, 2 cents above estimates. Sales jumped 105% to $133 million. Biovail is looking to buy drugs over the next 18 months that can be improved using its delivery technology. It expects to begin selling its improved hypertension drug Cardizem XL in September 2002. Its shares rose 1.25, or 3%, to 47.06.
RehabCare hits 2nd-qtr targets,
but profit surprises seem unlikely
The medical rehabilitation manager earned 43 cents a share, up 23% from a year ago. Sales climbed 27% to $136.9 million. But RehabCare warned that it is likely to report 2001 earnings growth at the low end of its 20% to 25% forecast. Its shares crashed 5.85, or 12%, to 43.95.
HealthSouth's second-quarter net rose 24% to 21 cents a share. The provider of outpatient surgery and rehab care beat views by a penny.