Sigma’s profits soar 25%

Sigma Pharmaceuticals says its fledgling online business in China is performing strongly as Chinese consumers snap up infant formula and papaya ointment.

The drugs wholesaler and pharmacy services provider on Thursday also said it did not fear competition from private hospitals operator Ramsay Health Care, which intends to expand its pharmacy network into the community.

Sigma supplies drugs and support services to pharmacies under the Amcal, Amcal Max, Guardian Discount Drug Stores, Pharmasave and Chemist King banners as well as independent pharmacies.

The company on Thursday booked a 25.2% lift in net profit for the six months