Cambrex’s Sales and Profits Rise

Cambrex says its fourth-quarter 2006 operating profits increased 3%, to $13 million, on sales up 7% to $66 million, benefiting from a 5% positive currency impact. Gross margins decreased, however, to 33.4%, from 35.3%, primarily due to pricing pressures on certain active pharma ingredients (API) and increased production costs. Full-year operating profits declined 4%, to $49 million, on sales up 6%, to $237 million. The annual results reflect an increase in the number of custom development projects and greater demand for generic APIs, which was partially offset by...

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