Strong Year-End Results From R-P Rorer

Franco-American pharmaceutical company Rhone-Poulenc Rorer reported anincrease of 20.7% in net income for the fourth quarter of 1996 to $165.7 million. Earnings per share were $1.21 for the quarter, up 18.6%. For the full year, net income grew 25.5% to $428.7 million and EPS was $3.16, compared with $2.53 a year earlier.

The company's sales in the fourth quarter were flat at $1.5 billion, while for the 12-month period a rise of 1.9% to $5.4 billion was recorded.

The estimated impact of the voluntary recall of albumin products by R-PR's joint-venture company, Centeon (Marketletters passim), is represented in a charge of $44 million. Michel de Rosen, chairman and chief executive of the firm, commented on the "significant costs" incurred during the second half of the year relating to Centeon, which he said "has resumed manufacturing at its Kankakee, Illinois facility." He added that the events in 1996 will continue to have an impact on performance in 1997.