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Business

Schering Posts Record Profit in 2004

German pharmaceuticals specialist Schering, a world leader in fertility drugs, said Wednesday that it booked a record net profit of €503 million ($644 million) in 2004, thanks to the strong performance of its gynecology division and to cost-cutting efforts. Schering said in a statement that bottom-line earnings rose by 13 percent to €503 million last year and operating profit was up 11 percent at a record of €761 million on a two-percent increase in sales to €4.907 billion. Sales in the gynecology division rose by nine percent to €1.768 billion, with sales of the oral contraceptive Yasmin alone soaring by 48 percent to €429 million. By contrast, sales of therapeutic products slipped by one percent, diagnostic imaging sales stagnated and sales in the dermatology division rose by four percent.

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