Ethical Holdings Reports Third Quarter Results
- Ethical Holdings has reported a net loss of L1.2 million ($1.9 million), or L0.08 per share, in the third quarter ended May 31, 1996. In the like, year-earlier period the company reported a loss of L1.3 million, or L0.10 per share. Michael O'Sullivan, chief financial officer, said that these results were expected, and that the company had been strengthened following the public listing of Phytopharm on the London Stock Exchange in April this year. Ethical has a 28.5% stake in the company and the transaction has added L15.8 million to its total assets. Meanwhile, Ethical has acquired Beta Pharmaceuticals, a drug-delivery company, in a $12.65 million cash/stock deal.
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