Slow AIDS drug orders and water shortages hit Adcock Ingram
The government AIDS drug orders from the pharmaceutical company have been less than a third of those anticipated
20 February 2020 - 16:14
UPDATED 21 February 2020 - 09:13
Slower than expected government orders for AIDS drugs and unreliable water supplies has knocked production at pharmaceutical manufacturer Adcock Ingram’s local factories, amplifying the effect of weak consumer demand and rising costs that saw the company deliver a mere 1% increase in headline earnings.
Revenue rose 1% to R3.63bn in the six months to end-December 2019, compared to R3.59bn in the corresponding period the year before, while operating profit increased at the same rate (1%) to R462m, up from R457m the year before...
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