Ares-Serono's Net Profits Surge

Ares-Serono of Switzerland achieved net profits for the first quarter of 1996 of $8.7 million, up 58%. Worldwide net sales amounted to $175.7 million, rising 14.9%.

The firm said that strong growth was recorded in all major markets. The only country in Europe were sales declined was Spain, where turnover fell 15%. In North America turnover grew 30%, in Latin America it was up 33%, led by strong sales in Mexico and Brazil, while in the Asia Pacific region revenue growth was 86.5%. The firm noted that sales of Metrodin HP, a highly purified follicle-stimulating hormone, continued to grow, rising 58%.

R&D expenses in the quarter amounted to $31.3 million, or 17.8% of sales.