By Turna Ray

Although Transgenomic reported a 22 percent drop in revenues for its pharmacogenomics services business in the first quarter of 2011, company officials believe that segment of its business will contribute significantly to earnings in the coming months as a number of newly signed genomic testing arrangements with pharmaceutical companies start to bring in money.

Transgenomic reported a 39 percent increase in overall sales to $7.5 million from $5.4 million in the first quarter of 2010.

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