MDS Inc's R&D outlays and revenue decline

MDS Inc's third quarter financial results show substantial declines in overall revenue and R&D spending as the firm continues to divest many of its business units. For the three months ending July 31st, the Toronto-based firm registered revenue of $192 million down 21% from $244 million in the same period last year. R&D also declined from $19 million to $16 million in the most recent quarter. Nine-month R&D totaled $44 million compared to $61 million in the same period last year. Following the release of its financials, MDS announced a change in its CEO (see People column on this page)….