Noweda's Sales Rise In 1994
Gross sales of the German pharmacist-owned drug wholesale group Noweda went up 2.6% in the year ended June 1994 to some 1.6 billion Deutschemarks ($1 billion). The company said that this was satisfactory at a time when the drug market was depressed by health spending cuts.
Total sales in the wholesale sector in western Germany in 1993 fell back by 10.9% to 20 billion marks and declined 3% in eastern Germany to 4.6 billion marks. Noweda was able to increase its net profits from 6.7 million marks to 7 million marks in 1993-94 through extensive cost-cutting.
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