Solid 3rd Qtr Growth For Large Pharma Cos

The major US pharmaceutical companies have posted strong growth in the third quarter of 1994, in the main with particularly strong sales outside of the USA, and slower domestic sales. However, there were some exceptions that also managed to achieve surprisingly strong US sales, such as Pfizer and Schering-Plough.

- American Home Products said that it achieved record results in the 1994 third-quarter and nine-month period. Pharmaceutical sales amounted to just under $1.3 billion, up 6% in the quarter. In the nine months, pharmaceutical sales were $3.7 billion, ahead 4%, favorably impacted by sales of Premarin (conjugated estrogens), cardiovascular and oral contraceptive products, and the recently-introduced antidepressant Effexor (venlafaxine). However, increases were partly offset by lower sales of the contraceptive Norplant (levonorgestrel), anti-inflammatories and antibiotics.

Sales of pharmaceuticals in the USA increased 2% in the third quarter and 3% in the nine-month period. International pharmaceutical sales grew 14% in the third quarter and 6% in the first nine months of the year. AHP's Consumer health care sales were ahead 6% in the third quarter to $521.2 million, and 1% to $1.3 billion in the first nine months. Medical supplies and diagnostic product sales were $204.5 million, down 5% in the third quarter, and in the nine-month period they fell 1% to $634.9 million.