MEDICINE maker Adcock Ingram is on the mend after being in "remedial mode for at least the past two years", the company said on Friday morning.The group said in its in its results statement for the year to end-June that revenue grew 7% to R5.6bn while aftertax profit from both continuing and discontinued businesses fell 10% to R179m.Adcock Ingram declared a 54c final dividend, which, with its 50c interim dividend, took the total for the year to 104c, a 38% drop from the previous year’s 167c.The group’s biggest division is prescription drugs, which contributed about a third of the group’s revenue and operating profit.Adcock Ingram said prescription drugs performed well thanks to strong sales of its antiretroviral medications and an increase in the government’s single exit price."This advantage was partly affected by the repatriation of certain products to multinational partners and a slight reduction in generic sales. The gross margin in prescription improved marginally in the curren...
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