Fidson: Demand for Prescription drugs boost revenues

Fidson Healthcare reported revenues of N4.4 billion in the second quarter of 2020 compared to N3.8 billion same period in 2020.

Key highlights – 2020 Q2

• Revenues surged to N4.69B  +24.1% year YoY
• Revenues from Ethical Unit rose to N2.5 billion +37.9% YoY
• Revenues from over the counter drug sales rose to N1.94 billion -4.2% YoY
• Pre-tax profits more than doubled in the quarter to N512.7 million +166% YoY

Bottom Line: Fidson got a major boost from increase in its Ethical unit. The ethical division includes prescription drugs. Pharmaceutical companies have recorded a major boost in revenues in the last few months mostly due to COVID-19.

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