Solvay's operating profit leaps 40%

Solvay of Belgium has reported solid first-half 2006 results, with 17% growth in revenues to 4.74 billion ($6.05 billion) and operating results (recurrent earnings before interest and tax) leaping 40% to 597.0 million euros. Pharmaceutical sales jumped 44% to 1.32 billion euros for the six months, while chemicals and plastics turnover each rose 10% to 1.51 billion euros and 1.92 billion euros, respectively.

REBIT for the group's pharmaceutical business leapt 220% to 243.0 million euros. Turnover in the division was lead by cardiometabolic products, including sales of 229.0 million euros from fenofibrate, the cholesterol-lowerer that Solvay bought with its 2005 acquisition of the French specialty group Fournier Pharma for 1.2 billion euros last year (Marketletter July 18, 2005).

The group said that, "overall for the year 2006, the results and margins for Solvay Pharmaceuticals will be significantly up by comparison to 2005," and is confident of realizing previously-announced goals by 2010.