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Siegfried Posts Higher Earnings and Flat Sales

10:08 AM MDT | September 8, 2008 | Ian Young

Siegfried (Zofingen, Switzerland) posted a 33% increase in Ebit for the first half of this year, to SF28.5 million   ($25.7million) on sales up 1%, to SF160 million. Earnings benefited from the sale of a pharmaceutical facility at Zofingen to Arena Pharmaceuticals (San Diego) and license payments for a previous biogeneric project. Second-quarter figures were not disclosed. Siegfried’s active ingredients division reported Ebit of SF1.7 million, “clearly lower than last year,” due partly to a one-time payment of SF9.1 million made by...

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