Astra Posts Strong Growth Slightly Ahead Of Forecasts

Astra of Sweden achieved pretax earnings growth in the first six months of 1995 of 41% to 6.3 billion Swedish kroner ($867.7 million). Operating earnings were up 36% to just over 6 billion kroner, and sales were 18.1 billion kroner, also ahead 36%. Earnings per share advanced 42% to 7.40 kroner.

The company notes that for comparable units - with half of sales through Astra Merck Inc in the USA included in 1994 - the sales increase was 21%. The USA is now the firm's largest market. Turnover there in the first half amounted to 3.3 billion kroner, of which Astra's share in Astra Merck accounted for 2.3 billion kroner. In Germany, sales amounted to 2.1 billion kroner, and in the UK, turnover was 1.9 billion kroner, up 5% and 23% respectively in local currency terms.

Sales of the antipeptic ulcer agent Losec (omeprazole) were 7.7 billion kroner in the 1995 first half. On a comparable basis, the increase was 26%. Sales of Pulmicort (budesonide) rose 24% to 2.2 billion kroner, Seloken (metoprolol) sales were 1.2 billion kroner, up 20% and the vasodilator Plendil (felodipine; see also page 16) achieved turnover of 863 million kroner, up 25% on a comparable basis.