Print

Adcock Ingram Suspends Dividend as Takeover Talks With CFR Pharmaceuticals Continue  
11/27/2013 6:51:31 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Adcock Ingram Holdings Ltd. (AIP), the South African drugmaker subject to a $1.2 billion takeover bid from Chile’s CFR Pharmaceuticals SA (CFR), suspended its dividend after full-year profit and margins fell as import costs rose. Net income declined 17 percent to 587.8 million rand ($58 million) in the 12 months through September from a year earlier, the Johannesburg-based company said in a statement today. The gross profit margin as a percentage of revenue declined to 41 percent from 46 percent a year earlier.

Help employers find you! Check out all the jobs and post your resume.

//-->