31 January 2007, Melbourne: Genepharm Australasia (ASX:GAA) has returned its second quarter of positive operating cashflows to finish the half year with a net positive operating cashflow of $3.179 million. The result has been achieved with solid net sales growth over the quarter. Generic pharmaceutical sales to pharmacies for the half-year to December 2006 continued to grow significantly over the same period with 50 percent growth in net sales and 50 percent growth in gross profit for the combined Genepharm and Douglas operations. “Genepharm’s positive cashflow for the half year is a result of the rapid and successful integration of the businesses post the Douglas Australia acquisition in July 2006,” said Mr Dennis Bastas, CEO of Genepharm. “We are particularly pleased with the strong sales performance of the overall business. We expect the sales growth to continue into the next half year as Genepharm continues to build its customer base and further expands its portfolio of products,” said Mr Bastas.
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