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11/02/2004
Galen on course to double profits
NI-based pharmaceuticals company Galen has reported pre-tax profits of £26 million for the first quarter of the year, and is on course to double annual profits.
The massive rise in profits for the Craigavon pharmaceuticals firm that procures a large slice of its profits from the US market prompted Galen's Chief Executive Roger Boissonneault to comment: "During the first quarter of our 2004 financial year, the Company has generated revenues in excess of $140 million, illustrating the excellent product portfolio that we have to drive future growth.
"With our two sales forces now fully in place, we look forward to the rest of 2004 with confidence."
During the company's last financial quarter, Galen announced the completion of the deployment of a 186-strong sales force in the Warner Chilcott Specialty pharmaceutical drug division.
The firm is one of Northern Ireland's most lucrative enterprises following the acquisition of US firm Warner Chilcott for just under £220 million in 2000.
Among the firm's main product lines are contraceptive pills and drugs used for hormone replacement therapy.
(SP)
The massive rise in profits for the Craigavon pharmaceuticals firm that procures a large slice of its profits from the US market prompted Galen's Chief Executive Roger Boissonneault to comment: "During the first quarter of our 2004 financial year, the Company has generated revenues in excess of $140 million, illustrating the excellent product portfolio that we have to drive future growth.
"With our two sales forces now fully in place, we look forward to the rest of 2004 with confidence."
During the company's last financial quarter, Galen announced the completion of the deployment of a 186-strong sales force in the Warner Chilcott Specialty pharmaceutical drug division.
The firm is one of Northern Ireland's most lucrative enterprises following the acquisition of US firm Warner Chilcott for just under £220 million in 2000.
Among the firm's main product lines are contraceptive pills and drugs used for hormone replacement therapy.
(SP)
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