Italy/Spain Pull Back Ares-Serono Results

Switzerland-based Ares-Serono reports sales of $636.8 million for 1994, a downturn of 4.6% on the previous year. These figures are adjusted to reflect the sale of the diagnostics division to BioChem Pharma of Canada in June of last year. For the fourth quarter of 1994, turnover was $172.5 million, down 7% compared with the like, 1993 period.

However, the company points out that excluding Spain and Italy, where revenues were influenced by health care reforms, sales for 1994 increased 22.3%. Strong sales growth was recorded in most of Ares-Serono's markets, with Nordic Europe (+72%) and Japan (+62%) showing the best performances. Sales in Latin America were up 37% and in Germany they rose 35%, while in Europe (excluding Italy) there was an 11% improvement, and 9% growth was seen in the North American region.

Worldwide sales of the group's infertility products were up 23.5%, and sales of follicle-stimulating hormone preparations (Metrodin and Metrodin HP) increased by 62.2%, with particularly good growth in the Nordic countries (+127%), Germany (+96%) and Spain (94%).