A Coventry-headquartered pharmaceuticals wholesaler that can trace its roots back to the 19th century has reported the results from its latest financial year during which the market remained “highly competitive”.
AAH Pharmaceuticals, which supplies to pharmacies, hospitals and doctors, has posted a revenue of £3.40bn for the 12 months to 31 March 2019 compared to £3.44bn in the prior period.
Its pre-tax profits also totalled £107.4m after reporting £133.9m during the last year.
The company employs almost 3,000 workers, is a subsidiary of US-headquartered McKesson Corporation.
A statement signed off by the board said: “The pharmaceutical wholesale market continued to be highly competitive during the year.
“Constraints in government expenditure again manifested themselves in reduced pharmacy remuneration leading to pressure from customers to offset the effects through price reduction.
“The major manufacturers also continued to exert pressure via competition for the rights to distribute their products through reduced wholesale and direct to pharmacy arrangements.
“However, we view these as normal pressures for a wholesale business and therefore continue to strive to minimise and offset them.”
