ABN Amro is tipping the Northern Ireland pharmaceutical group Galen as a buy.

The brokers believe its acquisition of Warner Chilcott will drive earnings, boosting prospects for shareholders.

Following the Warner Chilcott acquisition, Galen now has a presence in the US healthcare market. It has 260 sales representatives with a portfolio of branded female healthcare products and further acquisitions are expected in the US in this area. ABN Amro is forecasting the shares could increase from current levels of €14.45 to €19.15 by next September.