aaiPharma first quarter revenues climbed 40 percent, to $64 million, in the first quarter when compared to 2002 figures.

The specialty pharmaceutical firm reported earnings of 25 cents per share, or $7.2 million. AaiPharma lost $2.1 million to start 2002.

The company cited several reasons for the growth, including expansion of its sales force, the acquisition in March 2002 of Darvon and Darvocet drugs, and the FDA approval of two new dosage sizes of the drug Azasan as well as Calcitriol.

aaiPharma: www.aaiPharma.com