MedImmune Beats Expectations With Profit, Sales Growth

MedImmune Inc. reported stronger-than-expected first-quarter earnings on a 12 percent increase in sales for its blockbuster drug Synagis.

The Gaithersburg company said it earned $114.1 million (45 cents a share), up from $111 million (43 cents) in the corresponding period last year. Revenue for the quarter ended March 31 was $509.8 million, up from $489 million, a 4.3 percent gain.

The results surprised Wall Street analysts, who had predicted earnings of 36 cents per share.

Sales of Synagis, which prevents certain viral infections in babies, increased 12 percent, to $472 million from $422 million.

During the quarter, MedImmune sold $3 million worth of FluMist, its nasal flu vaccine that has so far disappointed in sales, largely because it is approved for only healthy people ages 5 through 49.

In 2007, MedImmune hopes to introduce a new version of FluMist -- one that is refrigerated, rather than frozen, eliminating storage problems. The firm is also conducting several studies to show that FluMist works better than a flu shot, particularly in children under 5, which could persuade federal regulators to permit its use for that age group.

Shares of MedImmune closed at $25.76, up 91 cents.

• Marriott International Inc. said earnings rose 27 percent in the first three months of the year, as a strong global economy drove up demand for hotel rooms.

Marriott reported profit of $145 million (61 cents a share), up from $114 million (47 cents) in the comparable period of 2004. Revenue increased 13 percent, to $2.5 billion.

Marriott manages more than 2,600 hotels, under the brand names Ritz-Carlton, Residence Inn and Courtyard, in the United States and in 65 other countries. For the quarter, its average daily rate at hotels in North America open at least a year increased 6.7 percent, and its occupancy rate was up slightly, to 69 percent.