Schering AG Maintains Strong Growth Momentum During First Nine Months of 2006
27 November 2006 - 6:33PM
PR Newswire (US)
- Net Sales: +9% - Operating Profit: +20% (adjusted for one-time
effects) - Betaferon(R): +16% Schering AG, Germany (FSE: SCH)
continued to grow strongly during the first nine months of 2006,
achieving an organic net sales growth of 9%. In total, net sales
increased to EUR 4,180 million. Both the multiple sclerosis drug
Betaferon(R) and the world's leading oral contraceptive Yasmin(R)
demonstrated double-digit growth rates in the first nine months of
2006. Sales of Betaferon(R) increased by 16% to EUR 727 million.
Betaferon was granted marketing authorization as first-line
treatment for the earliest stages of multiple sclerosis in Europe,
Canada and the United States by the end of October 2006. Net sales
of the Yasmin* increased by 33% to EUR 566 million. In October
2006, the FDA approved an extended indication of YAZ(R), which is
now available for the treatment of the emotional and physical
symptoms of the premenstrual dysphoric disorder (PMDD), a severe
form of the premenstrual syndrome (PMS). Sales of the intrauterine
system Mirena(R) increased by 27% to EUR 217 million. Schering AG's
Oncology business showed a solid increase in net sales of 9% in the
first nine months of 2006. This growth was mainly driven by
double-digit growth rates of Bonefos(R) (+19%) and Campath(R) (+
15%). "We are very pleased with the performance of our key
products, which contributed to our overall strong growth rates
during the first nine months of 2006," said Arthur J. Higgins,
Chairman of the Executive Board of Schering AG. "It is particularly
encouraging that we have been able to maintain our strong growth
momentum while we prepare for the successful integration of Bayer
Schering Pharma AG." In the United States Region (+18%), Latin
America/Canada Region (+21%) and the Asia/Pacific Region (+18%),
Schering AG increased net sales significantly. In the Europe
Region, net sales increased by 5%. After adjusting for one-time
effects in connection with divestitures and takeover-related
expenses, the operating profit increased by 20% to EUR 853 million.
This corresponds to an operating margin of 20.4%. Including these
one-time effects, net profit (EUR466m) and earnings per share
(EUR2.45) were each 3% below the previous year's level. * Includes
net sales of Yasmin(R), YAZ(R) and Yasminelle(R) Unless otherwise
indicated, all narrative refers to currency adjusted sales growth
rates. Schering AG is a research-based pharmaceutical company. Its
activities are focused on four business areas:
Gynecology&Andrology, Oncology, Diagnostic Imaging as well as
Specialized Therapeutics for disabling diseases. As a global player
with innovative products, Schering AG aims for leading positions in
specialized markets worldwide. With in-house R&D and supported
by an excellent global network of external partners, Schering AG is
securing a promising product pipeline. Using new ideas, Schering AG
aims to make a recognized contribution to medical progress and
strives to improve the quality of life: making medicine work It is
planned that Schering AG will be renamed Bayer Schering Pharma
Aktiengesellschaft. A corresponding resolution was passed at the
Extraordinary General Meeting of Schering AG on September 13, 2006.
Until the name change has been registered in the commercial
register, the company will continue to operate under the name
Schering AG. According to the resolution of the General Meeting,
the Executive Board will not file an application for registration
before December 1, 2006. This press release has been published by
Corporate Communication of Schering AG, Berlin, Germany. Your
contacts at Corporate Communication: Media Relations: Oliver
Renner, T: +49-30-468-124-31, Media Relations: Verena von
Bassewitz, T: +49-30-468-19-22-06, Investor Relations: Dr. Jost
Reinhard, T: +49-30-468-150-62, Find additional information at:
http://www.schering.de/eng Certain statements in this press release
that are neither reported financial results nor other historical
information are forward-looking statements, including but not
limited to, statements that are predictions of or indicate future
events, trends, plans or objectives. Undue reliance should not be
placed on such statements because, by their nature, they are
subject to known and unknown risks and uncertainties and can be
affected by other factors that could cause actual results and
Schering AG's plans and objectives to differ materially from those
expressed or implied in the forward-looking statements. Certain
factors that may cause such differences are discussed in our Form
20-F and Form 6-K reports filed with the U.S. Securities and
Exchange Commission. Schering AG undertakes no obligation to update
publicly or revise any of these forward-looking statements, whether
to reflect new information or future events or circumstances or
otherwise. DATASOURCE: Schering AG CONTACT: Your contacts at
Corporate Communication: Media Relations: Oliver Renner, T:
+49-30-468-124-31, , Media Relations: Verena von Bassewitz, T:
+49-30-468-19-22-06, , Investor Relations: Dr. Jost Reinhard, T:
+49-30-468-150-62,
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