Talecris Biotherapeutics, which is awaiting word from U.S. antitrust regulators on its $4 billion takeover by a Spanish company, reported stronger quarterly results.
Revenue, mostly sales of drugs made from blood plasma that treat autoimmune diseases and other ailments, rose to $406.7 million, up 7 percent from a year ago.
Net income excluding some charges was $58.5 million, up 29 percent.
Talecris is the Triangle's largest biotechnology company and employs more than 2,200 people locally, mostly at a Clayton drug factory and its Research Triangle Park headquarters.
Last June, it announced plans to merge with Grifols SA, which wants to expand in the United States.
But the U.S. Federal Trade Commission is reviewing the proposed union to make sure it doesn't increase drug prices. The FTC blocked an earlier Talecris takeover by an Australian company because of antitrust concerns.
Wall Street analysts expect the Talecris-Grifols union to win approval, but the FTC could force the companies to meet various conditions. Grifols and Talecris have said they hope to close the deal before June 30.
While Talecris waits for the FTC to rule, "I am pleased with the organizational focus that ultimately drove our significant increase in net income during the first quarter,” CEO Lawrence D. Stern said in a prepared statement. “This focus was evident in all functional areas of the organization."
Talecris shares began trading publicly at $19 in Sept. 2009. The stock rose 24 cents to close at $28.10 today.