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BUSINESS BRIEFS.(TO THE POINT)

Investor's Business Daily

| February 03, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

MEDICAL

Barr beats despite generics drop

The drug maker earned 56 cents a share in Q2, up 4% from a year ago ex items and a penny over views. Revenue fell 31% to $257 mil, missing views. Generic product sales, which make up the bulk of revenue, were dragged down by a drop in sales of antibiotic Ciprofloxacin but offset by proprietary product sales. Margins on product sales rose to 70% vs. 44% a year ago. Barr Pharma expects to make $2.35-$2.45 a share in '05 vs. views of $2.38. Shares rose 14 cents to 47.69.

** Valeant Pharmaceuticals said it will buy Xcel Pharmaceuticals, a privately held drug company focused on neurology, for $280 mil. Valeant fell 3% to 24.31.

FINANCE

Yield curve flattens Countrywide

The No. 1 U.S. mortgage lender earned 56 cents a share in Q4, down 39% and 25 cents short of ...

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