Centeon Impact Still Hitting R-PR Results
Net income fell 16% in the second quarter at Franco-American drugmakerRhone-Poulenc Rorer, from $92 million in the corresponding period in 1996 to $77 million. Earnings per share decreased 17.6% to 56 cents. The firm said that net sales for the second quarter were $1.24 billion, down 8%.
Turnover continued to be negatively impacted by the product recall at Centeon, the 50/50 joint venture plasma proteins company established by R-PR and Hoechst. Excluding the Centeon impact and a non-recurring gain on the termination of a partnership with Watson Pharmaceuticals related to diltiazem products, EPS would have risen 25%, said the company.
R-PR said that sales for the second quarter were affected significantly by product divestitures and currency fluctuations. Excluding these two factors, turnover would have risen 6% during the quarter, due to good sales of new applications for Lovenox (enoxaparin), as well as recently-launched products Nasacort (triamcinolone), Granocyte (lenograstim) and Taxotere (docetaxel).
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