Jean Coutu's revenue hit by lower generic drug prices

Wed May 1, 2013 7:16am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

May 1(Reuters) - Canadian pharmacy chain Jean Coutu Group Inc reported a 7 percent fall in revenue due to reductions in the prices of generic drugs and an additional reporting week in the year-earlier quarter.

Total sales fell to C$682.7 million in the fourth quarter.

Net profit declined to C$53.6 million ($53.3 million), or 25 Canadian cents a share, from C$62 million, or 28 Canadian cents per share, a year earlier.