Schering AG maintains strong growth momentum during first nine months of 2006
• Net Sales: +9%
• Operating Profit: +20% (adjusted for one-time effects)
• Betaferon®: +16%
Berlin, November 27, 2006 - 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® and the world’s leading oral contraceptive Yasmin® demonstrated double-digit growth rates in the first nine months of 2006. Sales of Betaferon® 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®, 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® 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® (+19%) and Campath® (+ 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 (€466m) and earnings per share (€2.45) were each 3% below the previous year’s level.
* Includes net sales of Yasmin®, YAZ® and Yasminelle®
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.
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.
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