Zeneca Gains From Expansion In Germany
The expansion of the German pharmaceutical market in 1994 benefited Zeneca's subsidiary, Zeneca GmbH, which reported total sales up 7% at 699 million Deutschemarks ($509.4 million). Exports accounted for 28% of the total. Operating profits went up 86% to 67 million marks.
Drug sales last year increased 6% to 465 million marks. Bernard Aundrup, the company's managing director, said growth was due primarily to both a consolidation of conditions and growth in the drug market and to cost-cutting. Pharmaceutical business in Germany accounted for 7% of Zeneca's sales worldwide.
Inside Germany, Zeneca GmbH's sales rose 12% to 288 million marks, with strong growth coming from newer products in the heart-circulatory, oncological and anesthesia sectors. Sales of innovative products grew 27%. However, the company reported losses on products which were included in the German government's fixed-price support regime. The firm says it is not considering entering the generics market.
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