Pharmacopeia Delays PDD Spin-off; Reports Drop in Quarterly Earnings

Pharmacopeia last week said that the proposed spin-off of its Pharmacopeia Drug Discovery (PDD) unit — initially expected to close by the end of March — will now occur by the end of April. The company also said that its consolidated revenue for the quarter ended March 31, 2004, was 34 percent lower than in the first quarter of 2003.

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