Printer Friendly

THE ARES-SERONO GROUP REPORTS 1991 NET EARNINGS OF US$71.2 MILLION

 THE ARES-SERONO GROUP REPORTS 1991 NET EARNINGS OF US$71.2 MILLION
 BOSTON, March 3 /PRNewswire/ -- The Ares-Serono Group today reported net income of US$71.2 million for the 12 months ended Dec. 31, 1991, a 12 percent increase from $63.6 million in 1990. Operating income also increased by 12 percent from $129.4 million to $144.9 million. Earnings per share were $131.01 in 1991 vs. $116.94 in 1990.
 Ares-Serono previously reported that 1991 sales reached $751.1 million compared with $653.1 million in 1990, an increase of 15 percent. Excluding unfavorable currency fluctuations, sales growth for the year was 17.5 percent.
 Ethical pharmaceutical sales for 1991 increased by 15.5 percent to $625.4 million, up from $541.5 million in 1990. Diagnostic sales were $106.6 million, an increase of 9.7 percent compared with $97.2 million in 1990. Sales of OTC products were $19.0 million, up 32.2 percent from $14.4 million the prior year.
 "In 1991, sales increased significantly in our main therapeutic fields, and net income showed a progression of 12.0 percent," said Fabio Bertarelli, the company's chief executive officer. "We achieved this strong growth while maintaining our ambitious research and development program and continuing our investments in the diagnostic division."
 In 1991, capital spending for property, plant and equipment amounted to $56.7 million compared with $59.3 million in 1990. During the last five years, capital spending totaled $270.4 million.
 At The Ares-Serono Group's annual meeting on June 10, 1992, the board of directors will ask shareholders to approve an increased dividend of SFr. 30.0 (SFr. 25.00 in 1991) per bearer share and SFr. 12.0 (SFr. 10.00) per registered share out of the 1991 retained earnings.
 Major developments for The Ares-Serono Group in 1991 included:
 --69 new drug registrations worldwide;
 --Strong sales and increased market share for Metrodin(R), a follicle stimulating hormone thus strengthening Ares-Serono's worldwide leadership in the infertility market;
 --In the United States and Europe, implementation of clinical trials for a new, highly purified follicle stimulating hormone;
 --An important new indication in Italy for Frone(R), a native beta interferon, for viral chronic hepatitis B and C, allowing The Ares-Serono Group to take a leadership position in the Italian interferon market;
 --The registration of Saizen(R) in several European countries for the additional indication of Turner's syndrome, a rare hereditary disease affecting only girls. Saizen, a human growth hormone and Ares-Serono's first bioengineered product, is already marketed in 30 countries for the treatment of growth hormone deficiency (hypopituitary dwarfism);
 --The launch in the United States of Geref(R), an in-vivo diagnostic test used to evaluate growth hormone deficiency;
 -- The announcement, at an international symposium, that Interleukin-6 (IL-6), a genetically engineered molecule, developed by a subsidiary of The Ares-Serono Group, is showing promise in the treatment of severe side effects associated with cancer therapy. IL-6 is also under investigation for the treatment of certain types of cancer;
 --The introduction of nine major additional tests for the SR-1(R), Ares-Serono's fully automated immunoassay diagnostic system. A total of 16 tests are now available on the SR-1, including a complete panel of reproductive endocrinology and thyroid tests, as well as tests for anemia and cardiac drugs. Shipments of the SR-1, manufactured by the U.S. subsidiary Serono-Baker, are meeting increasing worldwide market demand;
 --The launch of a new automated hematology analyzer, the 9000 Plus(R) system, offering a five-part white blood cell capability;
 --The introduction of a new MAIAclone(R) radioimmunoassay test kit for early diagnosis of prostate cancer;
 --The establishment of a new regional structure for the pharmaceutical division which divides the world market into five regions: Europe, North America, Japan, Latin America, and the company's other International Business Operations;
 --The opening of a representative office of The Ares-Serono Group in Moscow;
 --At the 1991 Annual Shareholders Meeting, the election of Ernesto Bertarelli, deputy chief executive officer, to the Board of Directors of Ares-Serono S.A., the top holding company of The Ares-Serono Group.
 The Ares-Serono Group is a leading Swiss developer and marketer of pharmaceutical and diagnostic products with executive headquarters in Geneva, Switzerland, and operating headquarters in Boston. The Group operates subsidiaries and manufacturing facilities in more than 20 countries. Shares of Ares-Serono S.A., the parent company of the group, are listed on the major Swiss stock exchanges.
 Following is a summary of audited comparative results prepared in accordance with International Accouting Standards (I.A.S.).
 THE ARES-SERONO GROUP
 Summary of Audited Comparative Results
 (all amounts in thousands U.S. dollars except per share data)
 Year Ended Dec. 31
 1991 1990
 NET SALES
 Ethical Pharmaceuticals $625,433 $541,522
 Diagnostics 106,639 97,197
 OTC 19,043 14,407
 TOTAL SALES 751,115 653,126
 Operating Income 144,865 129,368
 Pre-tax income
 before minority interests 107,639 100,625
 NET INCOME 71,215 63,567
 Earnings per share-(a) 131.01 116.94
 Number of shares
 outstanding-(a) 1,044,798 1,044,798
 ---
 Note (a)-Data per share based on 209,468 bearer shares and 835,330 registered shares (total equivalent number of bearer shares 543,600).
 -0- 3/3/92
 /CONTACT: Gina Cella of Ares-Serono, 617-982-9000, ext. 251/ CO: The Ares-Serono Group ST: Massachusetts IN: MTC SU: ERN


SH -- NE004 -- 4402 03/03/92 10:21 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 3, 1992
Words:897
Previous Article:MAIN LINE PAINTBALL HOSTS VALLEY FORGE MILITARY ACADEMY AND STAFF WEDNESDAY, MARCH 4
Next Article:CONSUMERS CAN ENJOY A NEW FREQUENT RENTER PROGRAM OFFERED BY BUDGET RENT A CAR
Topics:


Related Articles
THE ARES-SERONO GROUP REPORTS THIRD QUARTER AND NINE MONTHS SALES AND EARNINGS
INTERPHARM LABORATORIES REPORTS 1991 THIRD QUARTER AND NINE MONTHS SALES AND EARNINGS
ARES-SERONO GROUP REPORTS 1991 SALES IN EXCESS OF 1 BILLION SWISS FRANCS
INTERPHARM LABORATORIES REPORTS AN INCREASE IN SALES AND NET INCOME IN 1991
THE ARES-SERONO GROUP REPORTS SALES AND EARNINGS FOR THE FIRST QUARTER OF 1992
INTERPHARM LABORATORIES LTD. REPORTS EARNINGS AND INCOME FOR THE SECOND QUARTER OF 1992
THE ARES SERONO GROUP REPORTS SECOND QUARTER AND FIRST HALF 1992 RESULTS
THE ARES SERONO GROUP REPORTS THIRD QUARTER AND NINE MONTHS SALES AND EARNINGS
THE ARES-SERONO GROUP REPORTS INCREASED EARNINGS FOR 1992
THE ARES-SERONO GROUP REPORTS SALES AND EARNINGS FOR THE FIRST HALF OF 1995

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters