Adcock slides to near three-year lowComment on this story
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