Pierre Fabre Out Of The Red In 1994

The southern French drug group Pierre Fabre reported the first loss in its history in 1993 but moved back into profit in 1994 with net earnings of 230 million French francs ($48.1 million). Sales for the year were ahead 2.6% to 4.9 billion francs.

The 1993 situation was due to the restructuring of the group's Italian subsidiary, following the Italian government's decision to remove some Fabre products from reimbursement. Sales in Italy slumped and jobs were cut from 375 to 160.

The overall improvement of the group is due largely to its dermatological cosmetics business, which accounts for 31% of sales and which has been notably successful abroad. Prospects for 1995 appear good with 9% sales growth expected.