Sharp increase in profits at Siegfried Group
Swiss pharmaceutical company The Siegfried Group has reported its best financial results in its 130-year history.
Swiss pharmaceutical company The Siegfried Group has reported its best financial results in its 130-year history.
In 2002 net turnover increased by 13.2% from Sfr352.6m (€239.5m) to Sfr399m (€271m), consolidated net profit rose by 66% to Sfr56.2m (€38.2m) and operating profit by 70.1% to Sfr75.4m (€51.2m).
The Siegfried Division contributed 91% of the group turnover and increased the consolidated turnover by 16.1% to Sfr362.4m (€246.2m). Much of this is attributable to the excellent results achieved by Siegfried Exclusives, which produces custom manufactured APIs for multinational pharmaceutical companies, and also to generic activities, the company said.