Omnicare Q4 net sales up

Omnicare offers clinical research services for the pharmaceutical and biotechnology industries.

The company reported net loss was $65.29m, compared to a net income of $79.79m for the same period in 2009.

Omnicare’s gross profit was $343.37m for the fourth quarter of 2010, compared to $368.65m for the same period in 2009.

For the full year ended 31 December 2010, the company posted net sales of $6.15bn, compared to $6.17bn for the same period in 2009.

Gross profit was $1.37bn, compared to $1.5bn for the same period in 2009.

The company’s net loss was $106.11m, compared to a net income of $211.92m for the same period in 2009.

Operating income was $81.66m, compared to an operating income of $470.54m for the same period in

For the full-year 2011, Omnicare expects revenues of $6bn to $6.1bn and cash flow from continuing operations of $375m to $425m.

Omnicare CEO John Figueroa said in 2011, they will look to expand upon their recent initiatives focused on further improving their service delivery model and enhancing the customer experience.

"We believe these operating improvements to our long-term care business, coupled with the continued emergence of our specialty care business and the favorable pharmaceutical market dynamics, provide the company with an attractive platform for growth," Figueroa said.