CP Pharmaceuticals Ltd reported a 35 per cent increase in pre-tax profits for the year to June 30, 1999, which the company attributed to increased investment in premises and equipment over the past two years.
The company reported profits of £1.7m on a turnover of £25.2m. CP said that sales growth of 5 per cent was "somewhat restrained by production capacity" at its Wrexham, north Wales, site. The number of employees has increased to 435. The company described its trading year as "a game of two halves" with a falling trend in generic sales in 1998 being sharply reversed at the start of 1999 following the closure of Regent Laboratories and relocation of manufacturing at Norton Healthcare and APS/Berk. Generic sales increased by 50 per cent in the second half of the year.
CP recently acquired the rights to the migraine treatment Migril (ergotamine, cyclizine and caffeine) tablets from Glaxo Wellcome.