API 'Well Placed' for Positive Results (Australia)
This article was originally published in PharmAsia News
Drug distributor Australian Pharmaceuticals Industries posted a net loss of $2.6 million for the past four months. The company maintains despite the negative figures, it is now in a good position to post gains in the near future. The hiccup in profits stems from restructuring API has undertaken during the last year. The company has also worked to improve its interaction with independent pharmacists. Largely, it has focused on Priceline and Priceline Pharmacy assets while addressing some performance concerns in non-core assets. API's efforts have been rewarded. The company became the primary generics supplier for Alphapharm. And in spite of the loss, revenues during the period have actually increased by 7.8 percent to $940.3 million, far more than expected. (Click here for more
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