Drug Houses’ Link With U.S. Firm
Drug Houses of Australia, Ltd., Sydney, is to link with the American Cyanamid Company in a venture involving the formulation, packaging and distribution of “Lederle” antibiotic products. Commenting on the move, Mr G. B. Malley, managing director of Cyanamid (Aust.) Pty., Ltd., said details of the types of pharmaceuticals to be made and location of the plant would be announced later. Negotiations for a manufacturing partnership between the American parent and Drug Houses have been proceeding for some time. Drug Houses also announced that consolidated turnover for the December half-year was slightly higher than that for the previous corresponding period. Because of rising costs, profit was almost unchanged. The company will pay a steady 5 per cent, interim dividend. Last year’s final was also 5 per cent., with 1J per cent, bonus.
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Press, Volume C, Issue 29421, 25 January 1961, Page 17
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138Drug Houses’ Link With U.S. Firm Press, Volume C, Issue 29421, 25 January 1961, Page 17
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