Altana Pharma Posts Strong 1996 Growth

German pharmaceuticals and specialty chemicals group Altana AG says itwill achieve sales of around 4 billion Deutschemarks ($2.37 billion) by 2000 on current trends, coupled with a return on sales of 10%. For 1996, group sales increased 14% to 2.2 billion marks, with pretax profits up 20% at 243 million marks. Net profits were 14% higher at 136 million marks.

Pharmaceuticals, concentrated on Byk Gulden, produced 12% of total 1996 sales but by 2000 the proportion is forecast to rise to 35% as new drugs emerge from the pipeline. Last year the antiulcerant pantoprazole was the main growth producer, with sales up from 62 million marks to 136 million marks. Following the drug's launch in the USA in 1999 and in Japan in 2000, sales are forecast to reach 470 million marks a year. R&D spending was 250 million marks in 1996 and will rise above this level in the current year.