Altana's Profit Rises 20%

Net profits at Altana of Germany advanced 20% to 39 million Deutschemarks ($25.4 million) in the first half of 1994. Sales were 1.4 billion marks, up 3%. The strong gain in profits was driven by the pharmaceutical and chemical operations, and was helped by cost reductions. Altana also has dietetics and software divisions.

Klaus Schweickart, Altana's chairman, expects overall pretax profits to improve for the full year from 185 million marks to 200 million marks. Net profits should rise to 100 million marks, up 11%.

The company has spent 120 million marks on the launch of Pantoloc (pantoprazole), a proton pump inhibitor, in addition to 250 million marks on R&D. Launches in major European markets will be undertaken in 1995. Mr Schweickart says patent life will extend to 2005 but the sales target of 500 million marks will be achieved before the end of the century through license partners.