Sale Of HQ Makes Roussel Uclaf 1994 Profits Soar 84%

French drugmaker Roussel Uclaf (which is controlled by Germany's Hoechst) reported an 84.2% increase in net income for 1994 to 1.18 billion French francs ($223.9 million) on sales up 2.3% at 16.27 billion francs ($3.09 billion). However, the company points out that much of the increase in net profit was due to a capital gain on the sale of its headquarters real estate complex at Boulevard des Invalides in Paris. Without this, net income would have been 1.21 billion francs, a rise of 18.6%.

Excluding businesses that were transferred in 1994 and including newly-consolidated operations last year, sales advanced by 3.4% to 15.96 billion francs.

During 1994, RU transferred its crop protection and environmental health businesses to Hoechst Schering AgroEvo. Laboratoires Hoechst in France and a majority interest in Albert Roussel Pharma in Germany were transferred to RU, and in the UK, RU and Hoechst created the first in a series of joint ventures. The UK venture is 60%-owned by RU.