Strong Swiss Franc Impacts On Ciba's 1st Quarter

For the first three months of 1996, Swiss drugs major Ciba (soon to merger with Sandoz into Novartis; Marketletters passim) posted sales of 5.35 billion Swiss francs ($4.33 billion). This is down 2% in Swiss franc terms but up 2% in local currencies.

Pharmaceutical sales at 1.33 billion francs were down 1%, hit by currency translation, having shown a 3% improvement in local currency terms. Also within the health care sector, sales of self-medication products did particularly well, rising 1% in francs and 4% in local currencies to 259 million francs, as did Ciba Vision, up 1% in francs and 6% in local currencies to 271 million francs. Total health care sales for the quarter were 1.86 billion francs, up 1% (+6% in local currencies).

Although the company's previously best-selling antiarthritic Voltaren (diclofenac) is now facing generic competition, the launch of new products in the USA and Europe is more than offsetting this effect, according to the company.