‘Australian drugs firm Sigma Pharmaceuticals Ltd. reported a 27 percent rise in underlying annual profit, as expected, boosted by its takeover of Arrow, and reaffirmed its outlook for the year ahead.
Drugs manufacturer and distributor Sigma snared Arrow for its pipeline of generic drugs, a high margin business seen as a hot source of growth in the Australian market, where the government wants to curb growth in its spending on prescription drug subsidies.
It said it remained confident of achieving underlying profit growth of about 15 percent, excluding a one-off tax benefit and facilities closures tied to the takeover of Arrow.
The result and outlook were in line with expectations, and following a small run-up over the past two weeks Sigma’s shares traded flat in a firmer market after the result.’
Read more at Sigma Pharmaceuticals year profit rises 27 pct
- Sigma Pharmaceuticals year profit rises 27 pct
- South African citizens cheap drug guinea pigs
- Two drugs test victims face a year in coma
- Can drug companies improve their reputation?
- Pfizer Sees 40 Percent Rise in 2006 Net on Cost Cuts
- Pfizer’s Forecast Disappoints
- Pharmaceutical RFID Adoption Stalls
- Inhalable Drug Might Bring Sigh Of Relief To Diabetes Patients
- GlaxoSmithKline unveils best results since merger
- Pfizer Sues Teva, Sandoz Over Zithromax