Generics manufacturer Faulding Inc of the USA, which was formerly Purepac, returned to profitability in the fourth quarter ended June 30, 1996, thanks to extra sales volume resulting from new product approvals, particularly for its anti-inflammatory drug diclofenac.
In the fourth quarter, sales amounted to $23.6 million, up 43.9%, and net profits were $666,000, compared with a loss of $603,000 a year earlier.
For the full year, the firm had a restated loss of $5 million on restated turnover of $75.8 million, compared with a restated loss of $1.6 million and turnover of $64.9 million. $4.1 million in pretax losses was included from an acqusition.
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