Astra Merck's Prilosec Sales Jump 33% In 1st Half 1996

Joint venture company Astra Merck Inc has revealed that sales of its proton pump inhibitor antiulcerant Prilosec (omeprazole) amounted to $790 million for the first six months of 1996, an increase of 33% on first-half 1995. The company notes that first-half sales were influenced by changes in inventory levels in the wholesale sector, and the underlying increase in turnover is estimated to exceed 40%.

The company says that sales of its antihypertensive Plendil (felodipine) also expanded strongly in the first half, with turnover of this drug rising 28.6% to $45 million.

Astra Shares Upgraded Meantime, the shares of Swedish parent Astra have been upgraded from "hold" to "buy" by US investment bank Kleinwort Benson, whose analyst Karl-Johan Bonnevier said there is no reason why the company should be traded at its current discount to US drug stocks.