Medeva Shows Its Strength After Failed Merger Talks

Medeva of the UK revealed a good performance in 1995, and said that, with failed merger talks with Fisons behind it, it is moving forward with new projects. Pretax profits grew 23% in 1995 to L79 million ($120.8 million), sales were L256 million, ahead 7%, and earnings per share were 16% up to 16.9 pence.

Bernard Taylor, Medeva's retiring chairman, said that it was an excellent set of results, not just reflecting the values presented but "the robustness they also embody, having been achieved against major competition, particularly regarding respiratory products."

Global pharmaceutical turnover advanced 8%. There was strong growth from methylphenidate, with sales rising 34% in 1995 to L86 million. The rate of growth slowed in the fourth quarter, but Medeva's market share increased in 1994 from 64% to 66%. Sales of Fluvirin, Medeva's leading vaccine, with over 13 million doses sold, grew around 60%. Total vaccine turnover was up 14% to L39 million, and sales of hospital products advanced 9% to L42 million. Turnover of other products fell 3% to L48 million and Medeva's respiratory product sales declined 19% to L41 million.