UCB Sees Improved Profits In 1996

Belgian company UCB achieved pretax profits in 1996 of 5.5 billionBelgian francs ($163 million), up 30.9%. Group turnover was marginally down to 50 billion francs. The decline was said to have been due to the divestment by the group last year of its packaging division to an Australian firm.

Pharmaceutical operating profits grew 25.9% to 3.4 billion francs, and turnover for the year was 21 billion francs, an increase of 12.3%. The firm said that sales of Zyrtec (cetirizine) were stronger than expected. In the USA, where the product was launched in February last year, sales were $140 million, compared with a forecast by UCB of $120 million. UCB said that it is expanding its sales force in the USA to meet Zyrtec orders. The group's two other sectors, chemicals and films, also achieved a rise in profits.