Adcock slides to near three-year low

Comment on this story
Pharma REUTERS A pharmacist counts pills in a pharmacy.

Shares in Adcock Ingram (AIP) dropped more than 3% to a near three-year low on Tuesday after the pharmaceutical firm posted a drop in full year profit to the end of September.

Diluted headline earnings per share dropped 9.1% to 421.8 cents compared with the same period a year ago.

Adcock, which is South Africa's second-biggest drugs maker, latest results missed estimates with profit falling due to the loss of high-margin drugs and unfavourable currency swings.

At 2pm‚ the share price was down 3.20% to R53‚ the lowest level since January 2010. The share price values the company at R9.264 billion. - Reuters and I-Net Bridge



sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.