Schering AG Sees Growth In 1st Qtr

12 May 1996

Pretax profits for the first quarter of 1996 rose 5% to 234 million Deutschemarks ($153.3 million) at German pharmaceutical company Schering AG. Net profits were ahead 16% to 131 million marks, and sales for the quarter rose 5% to 1.2 billion marks.

It was noted that sales were entirely driven by an increase in volumes. Schering said that in particular, the encouraging development in foreign markets has led to an over-proportional increase of 6% in foreign sales. 40 million marks of total sales were achieved by Medrad in the USA, which is consolidated since the last quarter of 1995. Slight price increases and dampening currency effects balanced each other out. The key driver for growth in therapeutic sales was Betaferon (interferon beta-1b) for the treatment of multiple sclerosis.

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