Pharmaceutical firms’ profits tumble in 2Q

Local drug companies saw a substantial setback in their performance in their fiscal second quarter with operating profits more than halved due to fallout from the government-mandated cuts in drug prices in April.

According to a report by Yakup.com, a pharmaceutical information provider, operating profits and net incomes at 56 listed drug companies plunged by 42.2 percent and 36.7 percent on ...