Slow Growth Again For Astra In 2nd Qtr

Swedish pharmaceuticals group Astra has announced disappointing resultsfor the second quarter of 1997, with sales for the quarter reaching 21.47 billion Swedish kroner ($2.66 billion), up 13%, or when calculated at constant exchange rate, growth was 6%. Pretax profits rose just 4% to 7.01 billion kroner. In reaction to the figures, Astra's benchmark A shares slid 6.9% to 142 kroner.

Astra's sales of the antiulcerant Losec (omeprazole) during the first half of 1997 totaled 8.5 million kroner, an increase of 9% at constant exchange rates. Total sales of the product worldwide amounted to 14.72 billion kroner. The company's asthma treatment Pulmicort (budesonide) had turnover of 2.29 billion kroner, up 4%, while sales of its betablocker Seloken (metoprolol) rose to 1.24 billion, an increase of 15% at constant exchange rates.

European Sales Remain Flat On a regional basis, Astra's fortunes were decidely mixed. In North America, from where a large part of the group's turnover is now derived, revenues grew by 18% calculated at constant exchange rates, as opposed to a mere 1% growth in Europe.