Altana's EPS rises 11% in the first half of 2006

German drugmaker Altana AG's net income for second-quarter 2006 reached 126.0 million euros ($160.7 million), beating analysts' consensus forecasts of 118.0 million euros. Viewing the first six months of the year as a whole, the group's earnings before taxes rose 8% to 382.0 million euros, while first-half operating earnings before interest, taxes, depreciation and amortization jumped 14% to 466.0 million, and first-half net income reached 244.0 million euros or 1.79 euros per share, an 11% increase.

During the period, Altana says its consolidated sales rose 24% to 1.93 billion euros due to the "very good operating performance" of its pharmaceutical and chemicals divisions. Domestic sales amounted to 305.0 million euros, up 10%, though particularly strong growth was achieved in the market regions of North America, where sales increased 39% to 592.0 million euros, with Latin America rising 36% to 197.0 million euros.

Altana's top-sellers included the anti-ulcer drug Pantozol/Protonix (pantoprazole). The firm's own sales of the proton pump inhibitor totaled 743.0 million euros, an increase of 13%. In the USA, the drug generated revenues of 751.0 million euros, up 11%, achieving a 19% share of PPI prescriptions in this important market.