Saturday 19 October 2019

Pharma firm Servier sees profits and revenues drop

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Gordon Deegan

County Wicklow-based pharma firm Servier saw its pre-tax profits decrease by 47pc last year to €39.27m.

Accounts filed by Servier (Ireland) Industries Ltd show that the profits suffered the sharp decline due to a 13pc decrease in revenues to €629.32m from €722.87m in the 12 months to the end of September last.

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The workforce at the firm's Arklow plant last year decreased from 365 to 357. The principal activity of the group continues to be the manufacture of pharmaceutical products, primarily for the export market.

The firm in the year to the end of September 30 last paid a dividend of €45m to its parent and this followed a dividend payout of €45m in 2017 and €50m in 2016.

"Overall, sales decreased compared to the previous year, mainly due to a loss of patent in the Canadian market," the directors' report said. "Sales volumes, however, have been maintained at the previous year's level."

The firm's accumulated profits totalled €232m.

Irish Independent

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