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Ares-Serono profits surge

The biotechnology group, Ares-Serono, has exceeded all expectations by announcing a 141 per cent increase in net profits to SFr297.5 million.

This content was published on March 1, 2000 - 10:07

The biotechnology group, Ares-Serono, has exceeded all expectations by announcing a 141 per cent increase in annual income. The net profit of SFr297.5 million was achieved on annual sales of just over SFr1.67 billion. Turnover for the previous year was SFr1.5 billion.

The Geneva-based company said the increase was largely due to a 43 per cent increase in sales of its infertility drug, Gonal. Rebif, a treatment for multiple sclerosis in Europe, also did well and saw its sales treble to SFr237 million.

"We are delighted to report record results and a strong financial position," said the company's chief executive officer, Ernesto Bertarelli. "Our world-class technology platform, complemented by our global biotech network, will ensure Ares-Serono continues to deliver benefits both for patients and for shareholders."

The company's distribution and marketing expenditure grew to just over SFr431 million representing 25 per cent of sales.

Investment in research and development rose to SFr366 million, and the company said it was pursuing new treatments and uses for some of its existing products.

From staff and wire reports

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