Asta Medica Succeeds In Spite OfDifficult Environment

20 February 1995

Despite the difficult economic situation and strong competition facing the pharmaceutical industry, Degussa subsidiary Asta Medica says it was able to bring the 1993/94 business year to a successful close. The company consistently and successfully pursued new developments in international expansion, chief executive Rolf Kramer told a recent press conference.

Dr Kramer disclosed that as a result of the environment, worldwide sales of 1.40 billion Deutschemarks ($912.9 million) were only slightly higher than in the previous year. Nevertheless, group profits climbed to 89.3 million marks. Asta Medica group sales reached 1.35 billion marks, up 5.3%, but Asta Medica AG sales were stagnant at 471 million marks. However, the net income of the Asta Medica group rose 22.7% to 54 million marks, while Asta Medica AG's net income improved 42.5% to 34 million marks.

Group research and development spending rose 4% to a total of 168.7 million marks, and represented 12.5% of sales. Capital spending rose to 82.0 million marks.

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