FRESENIUS FORECASTS 10% GROWTH IN 1994

Sales of German pharmaceuticals and medical technology group Fresenius AG are expected to rise by 10% in 1994, according to its chairman, Gerd Krick. Profits are set to increase at a faster rate than sales, matching the trend of recent years.

Dr Krick said that such targets could not be achieved in Europe alone, and new growth has to come from the USA, where the company already operates, and the Asia-Pacific rim. A dialysis joint venture and a distribution subsidiary are planned in Japan, and two joint companies for the production and marketing of dialysis and infusion solutions are projected in China. Subsidiaries are being set up in Singapore, Hong Kong and Thailand, and in the future there will be affiliates in Vietnam, India and other countries.

Last year, Fresenius took over Abbott Lab's dialysis interests in the USA, and it has now acquired a majority stake in the diagnostics group Gull Laboratories. In addition, since the start of 1994, in Europe the German group has taken over the hospital construction company Hospitalia International GmbH and bought a majority share in Laboratorios Mein SA of Spain, which makes infusion solutions.