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Head Of Australia's Sigma Resigns In Face of Large Losses

This article was originally published in PharmAsia News

Executive Summary

Sigma Pharmaceuticals Managing Director Elmo de Alwis resigned his post in the wake of large losses recorded by the Australian drug maker. The director has held the post since Sigma went public in 2002, and led the firm into its acquisition of Arrow Pharmaceuticals in 2005. Company earnings have been on the decline for the past three years, leading to assertions the firm failed to disclose information key to potential investors. (Click here for more

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