GERMAN PHARMACEUTICAL group Celesio has reported strong first-quarter sales growth at its Irish pharmacies and a drop in revenues from its Irish wholesale division.
Revenues from its 59 Unicare pharmacies in Ireland rose 20 per cent to €37.1 million between January and March.
However, turnover at wholesaler Cahill May Roberts declined by 1.5 per cent over the same period to €77.8 million.
The company noted that the prices reimbursed by the State for pharmaceuticals were reduced in the Republic on March 1st.
Other changes in the market over the period included price cuts in the UK and the introduction of a new reimbursement model for pharmaceuticals in Norway in January. In The Netherlands, the prices for generic drugs were reduced by an average of 10 per cent, Celesio said.
It did not break out profits for its Irish operations but said group pretax profits had fallen from €145.1 million to €88.6 million in the first quarter on lower UK sales and a weaker pound.
Net income fell to €57.6 million from €102.5 million a year earlier. Sales declined 3.9 per cent over the period to €5.4 billion.
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