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Adcock Struggles As South African Healthcare Awaits Relief

Company Also Strikes Aspen Deal And Names New Chairperson And Company Secretary

 
• By Akriti Seth

Despite a slight increase in revenue, South Africa’s Adcock continues to struggle as it reports a continued drop in gross profit. The company expects the economy to remained constrained due to COVID-19, but is eagerly anticipating recovery with the government’s vaccine roll-out.

South Africa
Adcock is counting on South African healthcare to recover in order to stabilize • Source: Shutterstock

Adcock Ingram said that it managed to deliver a “resilient performance in a constrained environment owing to the continuing adverse impact of COVID-19” as it saw its revenue increase by 3.6% to ZAR3.75bn ($252m) in its financial first half ended 31 December 2020, compared to ZAR3.62bn reported in the prior year period, “owing to demand experienced by the company for immune-boosting products and increased sales of renal products.”

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