Altana Pharma's 3rd-qtr 2006 sales rise 11%
German drug and chemicals group Altana AG says its third-quarter 2006 sales rose 23% on the like, year-ago period, to 2.91 billion euros ($2.78 billion), due to a good operating performance and the continued favorable impact of last year's acquisition of pigment specialists, the Eckart Group. On the day of the news, November 2, shares in the firm rose 3% to 44.88 euros.
However, pharmaceutical sector analysts at Lehman Brothers said the company's results had "limited significance" as, in September, it agreed to sell its drugs unit to privately-held Danish drugmaker Nycomed, in a deal worth 4.5 billion euros (Marketletter October 2).
Pharma unit beat analyst expectations
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