The Investment Column: Amersham sees hope of a cure
The change in "tone" in the industry, evident in the second half, is already boosting sales of Amersham's technology and services. Its drug development services, used in testing and screening new pharmaceuticals, molecular biology, where Amersham leads the market, and genetic sequencing, increasingly used by drugs groups to short-cut the search for new drugs, reported sales growth of between 10 and 17 per cent last year. The improvement helped return Amersham's main life sciences division to growth in the second half. But group profits up from pounds 47.3m to pounds 50.8m owed most of their growth to foreign exchange benefits, which added pounds 4.5m to the bottom line.
Healthcare, the pharmaceutical and diagnostic division, has continued to grow on the back of Amersham's already strong position in nuclear medicine. The main Ceretec brain imaging agent saw sales dip 8 per cent to pounds 22.3m under the onslaught of competition from Du Pont's Neurolite, but Metastron, for pain caused by bone cancer, now sells nearly as well and the hope for the future is Myoview, the heart imaging agent. Amersham will receive a boost to earnings from raising its stake in the Japanese Nihon Medi- Physics to 50 per cent from October and give it a third of the world market for nuclear medicine.
The omens are better than they have been for some time for Amersham, but even profits of pounds 63m this year would put the shares, up 28p at pounds 10.43, on a prospective p/e ratio of 17. Hold.
- 1 Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
- 2 Cyclist in Russia narrowly misses being hit by car and lorry
- 3 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 4 What are your fingerprint words?
- 5 Gary Lineker involved in Twitter row after presenter rubbishes claims he will be warned by BBC over foul-mouthed tweets
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Jennifer Lawrence: Leaked 4Chan sex video branded 'fake' by users
Jennifer Lawrence 'naked sex video' will be leaked next, threatens 4Chan celebrity photo hacker
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...