Schering Sees Its Independence Through Drug R&D

Berlin-based Schering AG has made it clear that it will not aim for external growth through mergers and acquisitions at a time of drug industry upheaval, but will remain independent through research and development of new drugs, while ensuring shareholder confidence through high profitability.

"This is the best protection against take-over," according to the director of the company's French subsidiary, Xavier Guille des Buttes.

Schering, which has now refocused its business on its core drug developments, reported first-half 1994 sales of 2.3 billion Deutschemarks ($1.48 billion; Market letter July 25), up 16% over the same period of 1993, while net profits have increased 3.8% to 192 million marks ($123.6 million).