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Siegfried Reports a Loss in First Half

6:48 AM MDT | August 31, 2010 | Deepti Ramesh

Siegfried (Zofingen, Switzerland) reported a net loss of SF2.3 million ($2.25 million) in the first six months of 2010, compared with a net profit of SF0.6 million in the year-ago period. Sales increased 12.4%, to SF135.4 million. The net loss was mainly due to significantly higher expenditures caused by the repayment of bank loans, the company says. The active pharmaceutical ingredients (APIs) and intermediates business of Siegfried reported a 14.5% rise in first-half sales, to SF103.9 million. The finished dosage forms sales grew by 5.8%, to SF31.5 million...

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