The settlement of a class action by Sigma Pharmaceutical shareholders has taken a $48 million chunk out of the company's full-year profits. The leading healthcare company, which makes and distributes prescription and over-the-counter drugs to pharmacies, reported a net profit of $18.7 million - 64 per cent less than it would have without the December settlement. The class action by retailers involved disclosures during the financial crisis, and forced Sigma to pay $57.5 million in settlement fees. Sigma said its result was affected by one-off costs, such as the settlement, as well as refrigeration issues at its Newcastle site. It also said changes to the Pharmaceutical Benefits Scheme had hit its bottom line, and would continue to be a challenge in 2013. Advertisement ''Sigma has delivered continued improvement on its key financial metrics against the backdrop of the toughest era of PBS reform in more than a generation,'' Sigma chief executive Mark Hooper said. The federal government last year moved to cut the amount it pays for 180 drugs listed under the PBS by at least 23 per cent. Sigma, which owns the Amcal chemist brand, delivers many of the generic drugs listed in the PBS. Changes to the scheme … Continue reading →

Lash Group completes integration with TheraCom for patient support services like patient access and adherence arograms, helping over 15 million patients in past two decades. Charlotte, NC (PRWEB) March 13, 2013 Going forward, clients of the two companies will leverage the combined service portfolio of market-leading patient access and adherence programs under the Lash Group brand. The TheraCom pharmacy will remain a separate entity under Lash Group to provide integrated pharmacy services and strategic wholesale solutions for Lash Groups clients. Whether Lash Groups customer needs are highly complex or require a more streamlined, automated approach, this enhanced set of patient support services will address the industrys growing demands for such services, especially in light of healthcare reform and other pressures that are driving complexity and rapid change. There is an increased need for access and adherence services due to the continued evolution of the healthcare landscape, said Tracy Foster, President, Lash Group. We are developing and adapting these services according to Lash Group's strategic approach to program design, our Patients First service philosophy, and our commitment to innovation, technological advancement and accountability for performance. Our newly-aligned organization provides our customers an expanded set of core competencies and integrated services designed … Continue reading →