Sigma Pharmaceuticals Ltd
(ASX:SIP) says revenues will be negatively affected by changes in government pricing of generic medicines.
The company gained a one-month extension and now has until March to repay some debt facilities totaling about $750 million.
Also, at an extraordinary general meeting today shareholders were called to vote on the proposed sale of Sigma’s pharmaceutical division to Aspen Pharmacare.
The sale would result in gross proceeds of $900 million and allow the company to significantly reduce its debt.
In his address to shareholders Managing Director and CEO Mark Hooper says the Queensland warehouses are continuing to operate despite the floods.
Sigma Pharmaceuticals recorded a half year net loss of $218.52 million to July 31 2010.
