Schwarz Pharma Makes Strong Improvement
German company Schwarz Pharma, which is currently preparing for a stock exchange listing, has reported a 7% rise in sales in the first nine months of 1994 to 657 million Deutschemarks ($417.8 million).
Net profits grew 30%, helped by a major restructuring program in Germany and a marked improvement in sales and profits abroad. Sales in 1994 as a whole are set to exceed 900 million marks with 120 million to 130 million marks coming from the generics business. The company is forecasting a 40% rise in net profits, which reached 39.9 million marks in 1993.
The firm specializes mainly in drugs to treat illnesses relating to the cardiovascular system but is also active in developing gastrointestinal system products and urological drugs.
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