Rhone-Poulenc Rorer's 3rd Qtr As Expected

Rhone-Poulenc Rorer's sales and earnings in the third quarter of 1994 were in line with the company's expectations. Robert Cawthorn, chairman and chief executive, said that the company was particularly pleased with the strong progress made by its new products.

Sales in the third quarter advanced 8% to just over $1 billion. Excluding the effects of currency fluctuations and divestitures, sales grew 6%. Net income was $103 million, ahead 45%, and earnings per share were $0.76, up 49%. Analysts at Goldman Sachs in the UK had forecast a sales increase in the third quarter of 6% and a rise in EPS of 39%.

There were significant sales gains in the USA by pharmaceuticals and also by the global Armour business. In North America, the company said that sales of key products such as antiasthmatic agent Azmacort (triamcinolone) and antihypertensive Dilacor (diltiazem) rose both in the managed care environment and traditional settings. Lovenox (enoxaparin), which was launched in the USA and Canada in the middle of 1993, is said to be gaining further surgeon and formulary acceptance.