Adcock Ingram

Adcock Ingram
Type Public (JSE: AIP)
JSE Limited
Industry Health Care, Pharmaceuticals
Headquarters Johannesburg, South Africa
Area served South Africa and Selected Emerging Markets (southern Africa, Ghana, India)
Key people

Jonathan Louw (CEO)
Andy Hall (CFO)

Khotso Mokhele (Chairman)
Products Pharmaceuticals and Health Care
Revenue R4.4 Billion (FY 2010)[1]
Employees 2,400[2]
Subsidiaries Adcock Ingram Critical Care, Adcock Ingram pharmaceuticals
Website www.adcock.co.za

Adcock Ingram is a South African pharmacutical company. The company is dived into two divisions, its pharmastical business and its health care business with a market capitalisation of about R9 billion.

Adcock Ingram was bought out by Tiger Brands in 1999 but was unbundled from Tiger Brands and re-listed on the Johannesburg Stock Exchange after alleged anti-competitive practices in April 2008. Tiger was fined R53.5 million after an investigation concluded that "the allegations of collusive tendering and market allocation made in the complaint referral against AICC were, on a balance of probabilities, substantially correct."[3]

The company currently has a 10% share of the private pharmaceutical industry in South Africa.

Contents

History

Adcock Ingram first started out as a pharmacy in Krugersdorp trading under the name EJ Adcock Pharmacy 120 years ago. In the early 1900s, Hyme Tannenbaum was apprenticed to then owner, Jack Blair. Hyme's brothers Jack, Len and Archie soon followed him into the pharmacy, which they eventually bought. Beginning with this one small pharmacy, the Tannenbaum brothers built a cross-country chain of retail pharmacies, a pharmaceutical and toiletry manufacturing giant and a highly respected South African success story.[4] Adcock was first listed on the Johannesburg Stock Exchange in 1950. The company was sold to Tiger Brands in 1999 for R3.4 billion.[5] In August 2008 Adcock relisted on the JSE with 172.6 million ordinary issued shares at a price of R33.50 each.

Pharmaceutical brands

Adcock Ingram made R1,054 million from its pharmaceutical division in 2010.[1]

Health care brands

References

  1. ^ a b "2010 Corporate Presentation". Adcock Ingram. http://www.adcock.com/Downloads/2010-corporate-presentation.pdf. Retrieved 2 February 2011. 
  2. ^ Profiles's Stock Exchange Handbook: October 2010-January 2011. Johannesburg, South Africa: Sasfin. 2010. p. 357. ISSN 168000-36. 
  3. ^ Adcock Ingram Critical Care (Proprietary) Limited (“AICC”), Tiger Brands website, 9 May 2008, retrieved 2 February 2011
  4. ^ [1] Essential Magazine website article titled "A journey of 120 years began in Krugersdorp" published on 28 October 2011
  5. ^ Business Day: Tiger Oats Bids For All, 7 October 1999