Jean Coutu's revenue hit by lower generic drug prices

Wed May 1, 2013 7:16am EDT
 
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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.