bioMerieux' FY 2006 sales up 4.4% to $1.3B

French in vitro diagnostics firm bioMerieux says that its internal growth was strong in full-year 2006 with sales up 4.4% at over 1.0 billion euros ($1.33 billion) while operating profits rose 10% to 153.0 million euros and net earnings were up 17% to 105.0 million euros.

The firm is preparing to make a number of acquisitions and enter into industrial partnerships in its four main areas: bacteriology, immunoassays, molecular biology and industrial applications. Stephane Bancel, director general, said that acquisitions or partnerships would be announced "very shortly."

Mr Bancel said that, while 2006 had been good, 2007 would be even better. Growth is set to reach 6%-7% though margins will be affected by fixed costs arising out of the strategic restructuring of 2006 and the development of new technological platforms. Some analysts, while agreeing with Mr Bancel's presentation of bioMerieux' position, say the group's strong financial position has not been sufficiently utilized to grow more rapidly. The firm's capital reserves reached 558.0 million euros at the end of 2006 compared with a debt level of only 10.0 million euros.