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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