South Africa – Adcock says to fall into 9-month loss

August 7, 2014 10:52 am0 commentsViews: 26

adcock-3Adcock Ingram (website) said Tuesday that it will post a loss in the first nine-months of its fiscal year, as reported Sharenet.
Bidvest, which owns about 34 percent of Adcock, has been pushing through changes after blocking a $1.2 billion takeover offer of the drug maker from CFR Pharmaceuticals earlier this year.
“The effects of the corrective action are unlikely to yield significant improvement in the short term,” Adcock said, adding that “the board, however, remains optimistic about the company’s long term prospects.”

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