Strong Growth For Ares-Serono

Swiss company Ares-Serono achieved strong growth in the first nine months of 1996. Worldwide net sales were $562.8 million, up 11.9%. Net income rose 55% to $31.9 million, and operating income was $65.2 million, an increase of 52.2%. The firm invested $105 million in R&D in the nine-month period, compared to $103.5 million a year earlier.

Chief executive of A-S, Ernesto Bertarelli, said: "we are very pleased with the results for the nine months." The success of Metrodin HP (95% pure follicle stimulating hormone for injection), the introduction of Gonal-F (recombinant FSH) in European markets and the upcoming launch of Serostim (recombinant human growth hormone) and Metrodin HP to be marketed as Fertinex in the USA will be the basis for continued growth in sales and profits, he added.

The firm said that sales growth in European markets was ahead 15.8%, driven in the main by Metrodin HP, and good uptake of Gonal-F. Sales in North America grew 3.7%, while in Japan, there was a decrease in revenues of 17.6% in US dollar terms. This was primarily due to a lower yen versus the dollar and lower selling prices as of the second quarter of 1996 due to government price changes. Excluding the currency impact, sales decreased 3.5%.