Germany's Schering AG sees 1st-qtr 2006 net sales growth of 16% to 1.41 billion euros
German drugmaker Schering AG says that its operating profits for the first three months of 2006 were 240.0 million euros ($298.0 million), up 4% on the same period last year and ahead of analysts' forecasts. The firm also reported earnings per share in the period of 0.97 euros, significantly exceeding Lehman Brothers estimate of 0.67 euros.
Growth across several business areas
Schering says that the quarter has seen success in a range of its business areas, particularly its gynecology and andrology division, which achieved a revenue expansion of 21%. The firm attributes this success to the performance of its oral contraceptive Yasmin (drospirenone and ethinyl estradiol), which contributed 180.0 million euros to sales, a 34% increase on the comparable period last year. Also, the group says that sales of its Mirena intrauterine delivery system grew by 31%.
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