Turnover and profit rises at pharmaceutical company

A Devon-based pharmaceutical company has reported a rise in turnover and pre-tax profit as it continues to invest in new products.

Omega Pharma, based in Braunton, markets and sells cosmetic preparations, proprietary medicines and smoking cessation aids, including products manufactured by undertaking controlled by Perrigo Company plc and products under special distribution contracts.

In the year to 31 December 2023, the business posted pre-tax profit of £98.5m, up from £28m while turnover rose to £188.8m from £173.5m.

Looking ahead, the company said it will strive to maintain its revenue growth and profitability and plans to continue investing in the promotion of newly launched and existing products to achieve this.