DSM expects pharma business improvement by year end

Profits for DSM's pharma business fell from €37m to €14m in the first half of the year. The company put this down to lower business activities in its custom manufacturing business at DSM Pharmaceutical Products, related to de-stocking, delay in approvals and the loss of some larger contracts, and weak market conditions for DSM Anti-Infectives. The company expects the year-end results to be 'substantially lower than last year due to lower prices at Anti-Infectives and challenges to fill the pipeline at DSM Pharmaceutical Products'. DSM said it expects the the results of the Pharmaceutical Products business to be better towards the end of the year.
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