Celesio Writes-Down Pharmacy Assets And Reviews Its Presence In A Number Of Markets

Germany based pharmaceutical wholesale giant Celesio has written down the book value of pharmacies in its small European markets for the second time this year, and is looking to stop operations in a number of countries as a result of cost containment measures implemented by a number of governments in the region, including cuts in the reimbursement of low-value generic medicines. Comparing H109 retail pharmacy revenues to those in H108 shows a -5.3% decline in revenues from US$2,419mn to US$2,290mn.

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