Record Sales For Barr Laboratories

8 September 1996

US generics company Barr Laboratories posted record net sales of $232.2 million in the fiscal year ended June 30, 1996, rising 16% on the previous year. Net profits for the year were just over $7 million, up 13%, and earnings per share increased 4% to 48 cents.

The fourth quarter was said to have shown solid growth with sales of $60.5 million, up 9%, net profits ahead 36% to $1.7 million, and EPS at 11 cents compared to 9 cents for the 1995 fourth quarter.

Barr said that the rise in turnover was driven primarily by a continued increase in demand for tamoxifen, as well as increased sales for the balance of the firm's products. Fourth-quarter turnover reflected the price increase of tamoxifen when compared to the previous year, and an 18% increase in volume on Barr-manufactured products.

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