Galen revenue rise forecast

REVENUES at pharmaceutical company Galen are expected to have doubled in the company’s first quarter — generating cash for further takeovers in 2004, Davy Stockbrokers believe.

Ireland's second-largest pharmaceutical company by market capitalisation is to issue results for its first quarter to the end of December on Wednesday.

Davy analyst Jack Gorman said their forecast is revenues of $131.5 million, earnings before interest, tax and amortisation (EBITA) of $63.4m and diluted adjusted earnings per share (EPS) of 27.3c.