Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News 3M Healthcare chief focuses on increasing revenue

3M Healthcare chief focuses on increasing revenue

9th March 2006

3M’s chief financial officer has said that it’s harder and more risky to see results within the pharmaceutical sector than the firm’s other concerns, Marketwatch has reported.

Speaking to a conference of industrial manufacturing bosses, Pat Campbell said that while the firm’s pharmaceutical business was profitable it had significantly different characteristics from other subsidiaries within the corporation.

His comments come after the firm reported dreary fourth quarter healthcare profits of $304 million, down on $310 million, despite boosting its overall company wide income by 5.7 per cent to $761 million.

Mr Campbell said that firms in the medical business have to put a great deal into research and development in contrast to other industrial sectors.

“Most work we do on research and development [in other areas] you see in the workplace fairly rapidly,” he argued.

Conference delegates were told that 3M intends to boost productivity in all of its six concerns, but is focused on generating better turnover.

“My objective is to drive increased revenue and more economic profit, and if that translates into higher margins, so be it,” he said.

track© Adfero Ltd

We currently have 9 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.