138%Half-Year Earnings Increase For Bio-Tech Gen

Israeli company Bio-Technology General has announced increased earningsfor the quarter and six months ended June 30, 1997, recording a 66% increase to $5.4 million for the second quarter and $10 million, up 138% for the half year. After tax, net income for the second quarter rose 39.3% to $3.9 million.

Most encouraging for the company was the increase in product sales, which rose 26% and 50% for the quarter and six months respectively. Commenting on the half-year figure, Sim Fass, chief executive, said: "this increase is accompanied by only a modest increase in expenses of 15% over the same time period, allowing for the delivery of substantive growth in earnings per share" He also pointed out that the rise was due not only to increased R&D spending but also marketing and sales costs.