Schwarz Pharma Helped By Strong US Dollar
Continued positive growth in 1997 is expected by German drugmakerSchwarz Pharma AG, with sales up 5% overall, against a background of weak domestic market demand.
Group turnover went up 7.6% in first-half 1997 to 632.8 million Deutschemarks ($347.7 million), with the favorable impact of exchange rates accounting for some 24.5 million marks of the total. Operating profits leapt 29.5% to 126.9 million marks and net profits jumped 31% to 68.5 million marks.
Schwarz says that the marked improvement in profits was due to improved gross margins, the synergy effect of acquisitions and favorable currency trends.
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