Loading...
See More

Loss of high margin drugs hits Adcock

May 29 2012 08:07 Reuters

Company Data

ADCOCK INGRAM HOLDINGS LIMITED [JSE:AIP]

Last traded 48.14
Change -0.08
% Change 0.00
Cumulative volume 3959
Market cap 8.46bn

Last Updated: 01/10/2014 at 09:53. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Adcock eyes higher earnings

Aspen reaps reward of expansion plan

Drug suspension hits Adcock profit

Adcock acquires major stake in Bioswiss

Adcock Ingram acquires vitamins firm

Adcock ordered to withdraw painkillers

 

Johannesburg - South Africa's No 2 drug maker Adcock Ingram Holdings [JSE:AIP] posted a 10% fall half-year earnings on Tuesday, hit by the loss of high-margin drugs, and said it would continue seeking acquisitions in emerging markets.

Adcock, the nation's top over-the-counter drugs maker, said diluted headline earnings per share totalled 198.4 cents in the six months to end-March, compared with 220.7c a year earlier.

The company said sales increased 5% to R2.25bn.

Adcock has been struggling in recent months after losing three drugs that contribute as much as R200m sales due to safety reasons while the weaker rand and lower consumer demand added to the headwinds.

But the Midrand-based company has been teaming up with global pharmaceuticals companies such as Merck & Co to co-distribute their products in Africa.

Adcock said it would continue looking for acquisition opportunities in emerging markets, particularly Africa and India.

 
adcock ingram holdings
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...