Boots Doubles BASF Sales In US Drug Market
With the takeover of the drugs business of UK company Boots plc, Germany's BASF group will have effectively doubled its sales in the USA for 1995, according to Eggert Voscherau, chairman of the board at Knoll Pharmaceutical and head of the consumer products division of BASF Corp. He says US turnover will rise from $200 million to $500 million in 1995, and is set to reach $800 million by the year 2000.
One factor in this calculation will be the launch of sibutramine, a drug for the treatment of chronic obesity, in the USA in 1997. It is not known when the product will be launched in European markets.
Knoll Pharmaceutical, BASF's drugmaking arm, now has a 0.7%-0.8% share of the US market, says Mr Voscherau. The precise extent of operating earnings of the consumer products sector of BASF Corp is said by Mr Voscherau to be "several hundred million dollars" on 1995 sales of some $1.6 billion.
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