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NEW YORK (AP) - ImClone Systems Inc., a cancer drug maker, said Thursday that third-quarter profit dropped 29 percent because of lower manufacturing revenue and higher costs.
The company's earnings fell to $31 million, or 35 cents per share, for the three months ended Sept. 30 from $39.8 million, or 44 cents per share, a year earlier.
Revenue grew 9 percent to $106.5 million from $97.5 million as higher license fees, benchmark payments and royalties offset the drop in manufacturing revenue.
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