www.patheon.com
Patheon is a leading provider of contract development and manufacturing services to the global pharmaceutical industry. Patheon's technologies and services range from pre-clinical development to manufacturing a full array of dosage forms.
Patheon narrows first quarter loss as restructuring shows effect
TSX- listed Patheon Inc reduced its pretax loss substantially in the first quarter as a result of restructuring measures and cost reductions taking effect, while revenues were down compared to the prior year largely as a result of the stronger US dollar against its other major sales currencies.
Revenue in the seasonally weakest quarter to end-January fell 10 4 percent to US$147.2 million, a 2.9 opercent fall in local currencies. The company narrowed its pretax loss from continuing operations to US$2.1 million from US$11.4 million incurred in the previous first quarter. It made an operating profit of US$3.9 million compared with a US$4.0 million loss a year earlier.
Last month, Patheon rejected the unsolicited approach by JLL Patheon Holdings LLC, an affiliate of private equity group JLL Partners Inc, to buy the shares in Patheon it does not already own at US$2.00 apiece, as it substantially undervalued the company, its earnings potential and future growth prospects.
Patheon provides pharmaceutical manufacturing and packaging services




















