8/6/2008

Zentiva earnings rise on sales in Turkey

Bloomberg - Zentiva NV, the Czech generic-drug maker that Sanofi-Aventis SA wants to acquire, said second-quarter earnings rose 16% because of contributions from its Turkish unit. Zentiva's profit was boosted by last July's acquisition of Turkish unit Eczacibasi, which added 841 million koruna to revenue. The drugmaker also reduced unpaid invoices in Romania, its third-biggest market behind Turkey and the Czech Republic, by almost half to 1.3 billion koruna. Profit was pulled down by first-half impairment costs of 191.3 million koruna on assets in Turkey and Romania.