Apoteket profits down

Apoteket, Sweden’s state-owned pharmacy, has reported falling profits for the first nine months of 2005. The company’s post-tax profits were 130 million kronor for the period January-September. This compares with profits of 155 million kronor in the same period in 2004.

Turnover at the company rose to 26.3 billion kronor, up from 25.3 billion kronor in the first nine months of last year.

“Self-care and service sales are contributing positively to Apoteket’s results, whereas income from handling prescription drugs is not covering costs,” the company’s interim report said.

Apoteket has a monopoly position on the Swedish market for the sale of prescription and over-the-counter medication. It also sells a wide range of own-brand and branded cosmetics and consumer healthcare products.