Sigma Pharmaceuticals

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Sigma Pharmaceuticals Limited
Type Public company (ASX:SIP)
Industry Pharmaceuticals
Founded 1912 in Melbourne, Australia
Headquarters Rowville, Victoria, Australia
Area served Worldwide
Key people Brian Jamieson (Chairman)
Mark Hooper (CEO & managing director)
Products Prescription, Over-the-counter and Generic Pharmaceutical Products
Revenue A$3 billion
Net income A$53.5 million
Employees 850
Subsidiaries Amcal
Amcal Max
Guardian Pharmacies
Central Healthcare Services
Discount Drug Store (DDS)
Website sigmaco.com.au

Sigma Pharmaceuticals Limited is a full line wholesale and distribution business to pharmacy. It is also the owner of Australia's best known pharmacy retail brands: Amcal Max, DDS, Amcal and Guardian.

2010 restructure[edit]

Sigma restructured in 2010, disposing of its generic drug manufacturing business.[1]

Financial performance[edit]

The company's sales revenue grew 1.1 percent to $3 billion in 2013-14, while net profit climbed 187 percent to $53.5 million.[1]

Mergers & acquisitions[edit]

In March 2014, Sigma acquired Central Healthcare Services, in a deal worth $24.5 million. In September 2014, the company bought the Queensland-based Discount Drug Store (DDS) banner for $26.7 million. The DDS acquisition was set to add 120 pharmacies under that brand to the Sigma network.[1]

2010 trading halt[edit]

In 2010, Sigma shares were placed in a trading halt on the Australian Stock Exchange – initially due to a profit warning. Since then, allegations of accounting irregularities[2] and preferential deals negotiated with certain pharmacy chains (at the expense of smaller independent chemists) that left Sigma losing money at the expense of their own Amcal and Guardian Pharmacies banners[3] and forsaking cashflow emerged.[4] The trading halt was lifted later that year. The events resulted in the initiation of a shareholder class action before the Federal Court of Australia.

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