Profits double to nearly €15m for pharma firm

A PHARMACEUTICAL firm based in Connemara more than doubled its pre-tax profits to €14.4 million last year.

Accounts just filed by the US-owned Bioniche Pharma Holdings Ltd and subsidiaries to the Companies Office show that the group increased its revenues by 136% from €40m to €94.6m in the 12 months to the end of June 30, 2010.

The group manufactures and distributes speciality pharmaceutical injectables in vials and syringes, mainly in Europe and the US, to cover a wide range of treatments — anaesthetics, orthopedics, oncology and urology.