Galenica's 2006 profits climb 29.4%

Swiss drugmaker Galenica says that its net profit for full-year 2006 was 103.7 million Swiss francs ($86.3 million), up 29.4% on 2005 and the 11th consecutive year in which its income was above market expectations. Operating profits went up 15.9% to 148.5 million francs, while sales increased 3% to 2.1 billion francs, with revenues from its pharma division growing 4.6% to 258.9 million francs. The firm added that its expanded client base had boosted both its distribution business, up 2.7% to 1.6 billion francs, and its GaleniCare subsidiary with its chain of 131 pharmacies, which saw sales grow 10.1% to 358.4 million francs. The company's share price rose 1.4% to 390 francs in trading on the Swiss Stock Exchange on the day of the news.