Galen expected to deliver strong results

STOCKBROKERS expect Galen Holdings to deliver strong results tomorrow with Davy’s anticipating an 18% increase in product revenue growth.

Davy’s analyst Jack Gorman said with Galen reporting in US dollars for the first time this will remove the negative impact of dollar weakness that would have occurred if the results were reported in sterling as was the case up to now.

Mr Gorman said despite spending $295 million on the purchase of the Sarafem from Eli Lilly the company still has reserves and said he would not surprised if another product deal was announced over the course of the first half of 2003.