South Africa's Adcock Ingram post strong results; enters deal with Roche

South Africa’s largest health care group Adcock Ingram (AIP) has reported a strong set of financial result for the year ended September 30, 2010, with sales rising 11% to 4.4 billion rand ($626.0 million), gross profit improving 15% to 2.3 billion rand and normalized headline earnings increasing 15.5% to 900 million rand, or 518.2 cents a share.

2010 has been a challenging yet satisfying year for Adcock Ingram. Despite a tough economic environment, the group – which celebrated its 120th birthday this year – has achieved pleasing results, reporting double-digit revenue growth, improved normalised headline earnings per share and strong cash generation,” noted chief executive Jonathan Louw

Adcock Ingram also revealed that, on November 18, it signed a deal with Swiss drug major  Roche establishing a five-year strategic partnership whereby Adcock Ingram will sell, promote and distribute two well established Roche products in South Africa. Although it did not say what these drugs are.