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Drugs firm Bard sees profits slump to €75m

PRETAX PROFITS at the Irish subsidiary of US-owned healthcare manufacturer CR Bard have dropped by 32pc to $100.2m (€75m), its latest accounts have revealed.

The Dublin-based Bard Shannon Ltd reported increased revenues by 5pc to $729.6m (€546m).

But the directors said that the increase in revenues "has been offset to a large extent by a corresponding increase in the costs of materials, labour and overheads".

CR Bard is a leading multinational developer, manufacturer and marketer of medical technologies in the fields of vascular, urology, oncology and surgical speciality products.