Akzo Nobel issues profit warning but pharma sales bolster 1st-qtr results

Akzo Nobel, the Dutch pharmaceutical, chemical and coatings company, hasposted net income for first-quarter 2001 of 216 million euros ($194 million) a decline of 1% on the like, year-earlier period, while sales were up 4% to 3.47 billion euros.

Growth was again driven by Akzo's pharmaceutical unit, made up of Organon, its diagnostics division Organon Teknika, Diosynth and the animal health care unit Intervet. Total sales for the division increased 11% to 960 million euros, while its operating income rose 15% to 196 million euros. Organon's sales climbed 15.6% to 519 million euros, and up 46% in the USA to 165 million euros, on the back of strong returns for the antidepressant Remeron (mirtazepine), which jumped 57% to 136 million euros, and oral contraceptives, +21% to 128 million euros. Organon's hormone replacement therapy Livial (tibolone; see page 20) was up 21% to 41 million euros, and its gonadotropin preparation for the treatment of infertility, Puregon (follitropin beta) climbed 22% to 79 million euros.

Organon HQ moving to USA