Schering AG increases sales in the US by 22%
Berlin, July 26, 2002 -Schering reported today that net sales rose 5 per cent year-on-year to EUR 2,540 million (US$ 2,540 million)* and 9 per cent after adjustment for currency effects in the first six months of 2002. Operating profit grew 9 per cent to EUR 398 million (US$ 398 million). Net income for the period increased by 6 per cent to EUR 279 million (US$ 279 million), adjusted for one-off effects in particular the sale of our 24%-interest in Aventis CropScience.
"We are well on track with our growth strategy and show strong volume growth especially in the US, where sales increased by 22 per cent in US dollar," said Dr Hubertus Erlen, CEO and Chairman of the Executive Board of Schering AG. "Our growth rate is based on well-performing products such as Betaferon®, sales of which increased by 19 per cent, as well as on Yasmin®, whose share of new prescriptions has risen to 4.5 per cent in the US."
"Despite a difficult economic situation which we had to digest in Argentina and Brazil, our operating profit of EUR 398 million represents an excellent increase of 9 per cent over the first six months of the previous year," said Professor Klaus Pohle, CFO and Vice-Chairman of the Executive Board of Schering AG. "Excluding the expenditure in connection with the development of Leukine® in the Crohn's disease indication and one-off effects in the second quarter we still expect double-digit growth in operating profit and net income in 2002. We also anticipate a high single-digit increase in sales after adjusting for currency effects and excluding acquisition effects."
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