Net Profit Growth At Pharmacia

Pharmacia of Sweden, which has just announced a proposed merger with the US pharmaceutical company Upjohn (see page 3), has posted earnings growth in the January to June 1995 reporting period.

Net income advanced 9% to 1.7 billion Swedish kroner ($234.5 million) in the first half of 1995, and operating income was 2.6 billion kroner, down 6.6%. Revenues declined 3% to 13.3 billion kroner, but were up 3% for comparable units, the firm noted.

Of the six largest markets in Europe, pharmaceutical turnover in local currencies for comparable units rose 9% in the UK, 7% in Sweden, 3% in Germany and 1% in Spain. Pharmaceutical sales in local currencies in Italy and France were up 1% and 3% respectively.