Northern Ireland-based pharmaceutical group Galen beat market forecasts today in its full-year results with a strong last quarter.
The Craigavon-based company reported that full-year revenues came in at $432 million compared with $235 million last year. Pre-tax profit fell to $116.3 million from $149.4 million.
Revenue for the year was $432.3 million gross margin improved to 85 per cent compared to 83 per cent a year ago.
The performance in the last quarter was driven by better-than-anticipated revenues from acquired products - in particular Loestrin and Estrostep.
Sales of Doryx were significantly behind forecasts for the second quarter running. Femring recorded sales of $600,000 in the quarter.
Overall analysts said the results were strong with sales of the recently acquired products driving the out-performance.