Pharma firm losses increase to €182m

Shannon: Pre-tax losses at Shannon-based pharmaceutical firm UCB Schwarz Pharma last year increased by 76% to €182 million.

According to accounts filed by the Belgian-owned company, they show that the chief factor behind the massive loss was a write-down of tangible fixed assets of €115.5m.

The figures show that the company increased its turnover by 11% from €71.3m to €79.2m to the end of December last.