Hawthorn has faced calls to sell off its pharmaceutical division amid the price hikes and the prospect of a potential takeover by a rival.
The company has said it needs to raise $2.5 billion to remain profitable, but analysts have been warning of a looming collapse.
The stock has lost $2 billion in the past three years and its shares have been hammered by the rising costs of its medicines.
The latest cuts have prompted a call from Hawthorns board of directors to the Australian Competition and Consumer Commission (ACCC) to investigate the company’s drugs and medicines supply chain.
“We have been in a very challenging financial situation for quite some time and we’re certainly not good sufficient to compete,” a Hawthorned spokesperson said.
“The pharma sector in Australia is a tough and challenging environment, and there’s a lot of uncertainty around the future of this industry.”
Hawthorne needs to be in a position where it can grow and compete in a challenging environment.”ACCC inquiries are set to begin this week.
The board said Hawthears drugs and medical products were not sufficiently protected from price increases.”
While Hawthours core business is focused on the medicinal sector, the pharma and medical sectors have had significant adverse impacts on the business, including significant declines in market share.””
It’s been an exceptionally challenging period for the Hawthors business and its operations.”
While Hawthours core business is focused on the medicinal sector, the pharma and medical sectors have had significant adverse impacts on the business, including significant declines in market share.
“It has also had a significant impact on our business margins, particularly in the medicinal, pharmaceutical and pharmacy sectors.”
There have been substantial financial and operational challenges for Hawthans businesses, particularly the medical and pharmaceutical sectors.
“The Hawthanners chief executive, Peter McEvoy, said the company needed to address its problems as quickly as possible.”
The pharmacist’s group, Australian Pharmacists Association (APA), said the board was trying to sell the company, not buy it.””
The sooner we can do that, the sooner we’re able to bring the business back to a strong state of operation.”
The pharmacist’s group, Australian Pharmacists Association (APA), said the board was trying to sell the company, not buy it.
“Any takeover would be extremely risky and would likely result in the immediate loss of jobs and the continued disruption of business as usual,” it told Fairfax Media.
“[The board] is trying to make a profit.
They need to make the most money possible and we’ll support that.”‘
We’re in a bit of a bind’The board has made the decision to sell Hawthirds pharmaceuticals division, according to a spokesperson.
“At this stage, we’re not in a situation where we can sell it.
We’re in the midst of a number of financial challenges that are being met through strategic changes to our business and restructuring.”
In order to achieve the most cost-effective, sustainable and sustainable outcome, it is important that the Hawths business is in a healthy and competitive position, and the APA has the support of the board to support that plan,” the spokesperson said in an emailed statement.
The APA said it had no comment.
‘The best thing we could have done was to sell’The spokesperson said the ACCC would investigate the Hawhthorns drugs and medicine supply chain and that it would “be able to give us the information we need” about whether the company was “sufficiently protected” from price hikes.”
That will enable us to assess the risks and benefits of selling the business,” it added.”
But we need a few more days to do so.
The board of Hawthons is very concerned by the concerns and concerns of the APAC and is actively considering a sale of the company.
“A Hawthunter spokesperson said it was too early to comment.
The ABC has contacted Hawthants for comment.
Topics:business-economics-and-finance,health,medical-research,pharmaceuticals,hastings-3151,hawthorn-3153,vic,auFirst posted April 10, 2018 10:15:56Contact James O’Donnell