Australia's biggest drug distribution company in terms of market share, Sigma Pharmaceuticals Ltd., registered a loss of A$389 million or $356 million for the full last year's period.

Besides this, Sigma also went through record low in its share prices during trading on Wednesday.

The loss has forced the Melbourne-based firm to restructure and renegotiate on its loans. As part of the loss package, it has also seen a write-down, which is worth A$424 million. This was revealed in a statement made by the company.

The reasons cited for this decrease are the new regulations that have appeared in the Australian drug market. The impact of these has been on Sigma's margins; cash flows, too, have been restricted.

All together, the company said that it has seen erosion in the value of goodwill that it generated through merger with Arrow Pharmaceuticals in 2005.

Meanwhile, the sales have risen by 4.5 per cent to become A$3.2 billion.

Analysts feel that there has been a significant decline in the worth of the company. They believe that Sigma will have to fight in the future to regain its last position.