New private equity owners earn €33m dividend
Pretax profits at the Co Galway based Chanelle Pharma group last year declined by 19 per cent to €11.05 million, as its new private equity owners gained a €33 million dividend.
Chanelle Pharma is Ireland’s largest manufacturer of generic pharmaceuticals for human and animal health.In new consolidated accounts for the group, Chanelle Holdco 3 and subsidiaries' pretax profits declined by €2.59 million to €11.05 million for the 12 months to the end of April last year as revenues increased by 11 per cent to €190.5 million.The directors for the manufacturing arm state that “trading since the start of the new financial year has been encouraging”.
They further state that “we believe in the capability of our people and our ability to execute our strategy and therefore remain confident in our future growth prospects”. They state: “Numerous marketing authorisations for product approvals have been achieved throughout the year as well as a number of licence and supply agreements. Although none are material in their own right, they all strengthen the existing product portfolio.”
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Poolbeg Pharma Seeks Merger Extension with Hookipa PharmaPoolbeg Pharma, a clinical-stage biopharmaceutical company, has received a four-week extension from the UK takeover panel to finalize a merger deal with Nasdaq-listed Hookipa Pharma. The all-share deal would see Poolbeg investors initially holding a 55% stake in the merged entity, with Hookipa shareholders owning the remaining 45%. The transaction, structured as a reverse takeover, aims to protect Hookipa's Nasdaq listing.
Read more »
Sackler family and Purdue Pharma to pay €7bn as part of opioid accordFamily and company to make payment to group of US states and other parties to settle long-running litigation over OxyContin’s role in opioid epidemic
Read more »
Ireland's Rising Trade Deficit with the US: A Focus on Pharma and TechIreland's trade deficit with the US has significantly increased, making it a focal point in the Trump administration's trade policy. This article explores the reasons behind this widening deficit, highlighting the role of pharmaceutical exports and technology investments.
Read more »
Trump Targets Irish Pharma Exports with TariffsPresident Trump's trade war escalates as he threatens tariffs on pharmaceutical imports from Ireland, aiming to reduce the US trade deficit. The move could significantly impact Ireland's economy, which relies heavily on exports to the US.
Read more »
A new government and a new approach from oppositionInside Politics podcast with Hugh Linehan
Read more »
Gaelic Football Rules Overhaul: New Season, New ChallengesThe Allianz Football League kicks off with a raft of rule changes designed to open up the game and increase scoring. From the 'three up' rule to a vanishing foam system, here's what to look out for this weekend.
Read more »