Schering AG raises earnings expectations

Schering AG says that net sales rose 9% to 2.41 billion euros ($2.04billion) for the first half of 2001 and net income improved 26% to 264 million euros. Operating profit, however, advanced just 1% to 365 million euros, reflecting investments in its new product launches, the firm notes.

The company also raised, for the second time this year, net income expectations for 2001 of over 400 million euros, and confirmed earlier sales forecasts for the full year of 4.5 billion euros (Marketletter April 30).

The multiple sclerosis drug Betaferon/Betaseron (interferon beta-1b) continued to be Schering's largest-selling product, with turnover up 13% to 326 million euros for the six months. The firm notes that, in the USA, the success of Betaferon and the chronic lymphocyte leukemia drug Fludara (fludarabine; with sales up 45% at 73 million euros) enabled it to cushion the fall of Betapace (sotolol), turnover of which fell 49% to 61 million euros, caused by the expiration of the product's market exclusivity, noted Klaus Pohle, vice chairman of the firm's executive board.