FRANKFURT, June 11 (Reuters) - German healthcare conglomerate Fresenius raised its 2012 profit outlook for the second time, as its injectable generic drugs unit Kabi continues to benefit from rivals’ supply shortages.
It now sees net income before special items up 14-16 percent when adjusted for currency swings and excluding effects of the planned takeover of Rhoen-Klinikum. In April, it had raised its guidance to predict growth of 12-15 percent.
It also now expects an adjusted increase in sales of 12-14 percent, compared with a previous outlook of the upper end of a 10-13 percent range.
Kabi’s U.S. business, formerly called APP Pharmaceuticals, is getting a continuous windfall profits from rivals’ production blunders, which have caused shortages in the supply of dozens of injectable generic drugs including the widely used anaesthetic propofol.