Losec Boosts Sales At Astra For 1st Nine Months

In the first nine months of 1997, sales at Swedish drugmaker Astrareached 32.46 billion Swedish kroner ($4.29 billion), up 15%, or calculated at constant exchange rates, up 8% on the corresponding period last year. Net earnings for the period rose 6% to 7.46 billion kroner.

European sales were modest and amounted to 17.12 billion kroner, an increase of 5%, due in part to strong growth in Germany, France and Italy, while UK revenues slipped 16%, mainly as a result of parallel trade. Sales in Sweden fell 19%, which Astra again puts down to stockpiling of pharmaceuticals in 1996 and parallel imports from southern Europe (Marketletters passim).

US Sales Lift Profits North American revenues amounted to 9.98 billion kroner, up 37%, of which Astra's share in 50-50 joint venture Astra-Merck accounted for 6.34 billion kroner. The increase helped lift operating profits to 3.43 billion kroner, a rise of 20%, which would have been higher had it not been for a 53% plunge in net financial income to 330 million kroner. Earnings per share rose to 1.47 kroner, an increase of 9.7%.