Central acquisition boosted wholesale business, says Sigma

Central acquisition boosted wholesale business, says SigmaSigma Pharmaceuticals has said that that the acquisition of Central Healthcare has helped expand its wholesale business.

The acquisition of Central Healthcare has helped the company consolidate its position in the market head of Symbion and Australian Pharmaceutical Industries. Mark Hooper, the Chief Executive officer of Sigma Pharmaceuticals has said that the company has spent $24.5 million to acquire the company. He pointed out that the takeover allowed that company to increase its distribution volume and increase its Sigma.

"It ticks a few boxes. It lifts our market share by about 3 per cent to 35 per cent. It comfortably puts us in the leading market position," she said.

Sigma offers prescription medicines and over the counter goods to pharmacy brands like Chemist's Warehouse, Guardian and Amcal. The company is scheduled to report its full year earnings for the year till 31 January, 2014. Sigma said on Wednesday that the two companies will continue to operating as standalone units. He said that it will allow operational flexibility to the companies and boost earnings.

"Central Healthcare also provides Sigma with an opportunity to diversify its service offering by establishing an independently operated wholesale and retail channel that can leverage Sigma's financial strength and national infrastructure to expand and develop new business models to meet the changing needs of the Australianpharmacy landscape," Mr Hooper said.