Schering AG's Profits Surge In 1st Half
Pretax profits at German drugmaker Schering AG surged in the first six months of 1996, along with a strong increase in sales.
Encouraging growth in foreign business helped boost group sales 11% to 2.5 billion Deutschemarks ($1.7 billion), with a growth trend of 17% in the second quarter. Pretax profits were 416 million marks, up 16%. The firm noted that in the second quarter there was 57% growth in profits, leading to 32% increase in net profits for the half year.
Schering experienced a surge in sales in the USA of its multiple sclerosis treatment Betaferon/Betaseron (interferon beta-1b). The product achieved sales of 265 million marks in the first six months of the year.
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