ZOMEDICA PETROCHEMICALS, INC.
is raising its prices by 10 cents per pill on Wednesday.
The price hike, which also applies to prescriptions for older medications and some generic versions, comes as a result of a decline in the volume of the drug marketplace.
The price of Acetaminophen, which has been available at $1.50 a pill since it was introduced in 1996, will increase to $1 on Thursday.ZOMEDica said its prescription business will see a 3 percent decline in revenues.
AcetaminoN has been a huge success for the company, with a market cap of more than $1 billion and $10.9 billion in revenue in the first nine months of the year.
AcetamineN, which is also marketed as Nexium, was approved by the Food and Drug Administration for the treatment of narcolepsy.ZOIDA GROUP is facing a loss of more $20 million on its shares as the company reported a quarterly loss.
The company reported an 8 percent drop in revenue for the first quarter of the current year.
Zoida said its results fell short of analysts’ expectations and that the downturn in the drug market will continue to impact the company.
ZOIDA, the company’s parent company, also said it will reduce the size of its U.S. operations.ZOCOMEDA is raising prices by 6 cents per tablet.
The generic version of Avastin, which was originally approved for use in a treatment for the flu, will rise by 10.5 cents a tablet.
The generic version, Zoida says, has been found to be less effective in treating flu than its brand name.
The generics’ price is expected to drop by 5 percent.ZOLODIA, which makes an allergy medication called AstraZeneca, has announced it is raising the price by 10 cent per tablet, from $6.99 to $7.99.
The drug is being offered in the United States and Canada.