A Good Start To 1997 For Ares-Serono
The Swiss fertility firm Ares-Serono achieved net sales of $212 millionin the first quarter ended March 31, 1997, up 20.6%. In constant currencies sales would have increased 24.2%, noted the company. Operating income grew 56.1% to $35.5 million, benefiting from favorable currency fluctuations. Net income grew 89.9% to $16.4 million.
The firm said that it invested $38.1 million in R&D, representing 18% of sales, and an increase on the like, year-earlier period of 21.7%.
Ernesto Bertarelli, Ares-Serono's chief executive, said: "the year 1997 is off to a good start, with continued strong sales growth, and a solid increase in operating and net income in the first quarter over last year. We are particularly pleased with the increase in the first quarter of our fertility products, which is led by Gonal-F (recombinant FSH) and Metrodin HP/Fertinex (FSH)." He added that he expects this performance to continue throughout the year.
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