Blackmores acquires manufacturing facility as profit grows.
Australian listed complementary medicines company Blackmores has announced a strategic acquisition of 100% of the Catalent Australia tablet and soft-gel capsule manufacturing facility in Braeside, Vic, for $43.2 million, expanding the company’s ability to respond to changing market conditions.
In an ASX announcement, Blackmores also reported net sales for the nine months to 31 Mar of $434 million, up 8.5% compared to the prior corresponding period, with net profit after tax at $52 million, up 19.3% on the prior period.
Additionally, Jackie McArthur, 2016 Telstra NSW Businesswoman of the Year, was appointed to the Board as Non-Executive Director, with “extensive operational expertise across the Asia Pacific Region”.
Commenting on the reported results, Blackmores chief executive officer Richard Henfrey said, “We made solid market share gains in Australia over the last quarter and remain the clear number one brand in Australia in both total market and domestic sales.”
He added that recent structural changes in the sector had affected supply continuity of many smaller lines as well as export sales in the second and third quarters.
“The Board expects our current growth trajectory will continue and that we will deliver good profit growth for the full year,” Henfrey concluded.
See tomorrow’s Pharmacy Daily for more.