Europe South Asia Asia Pacific Americas Middle East Africa BBC Homepage World Service Education

Front Page



UK Politics







Talking Point
On Air
Low Graphics

Thursday, August 6, 1998 Published at 09:15 GMT 10:15 UK

Business: The Company File

Pound batters drug giant

Drug sales are strong..but not strong enough

Zeneca, the UK pharmaceuticals company, saw 81m wiped off its profits by the high pound.

The company reported overall profits of 654m for the first half of the year, down 2% and just below the consensus forecast of 660m.

Sales were up 5% to 2.9bn ($4.7bn), with drug sales particularly strong in the US.

But stripping out currency effects, profits would have been up 10% on sales 11% higher.

Growth strong in US market

Zeneca's drug sales were particularly strong in the US market, with a strong 24% increase.

Zeneca specialises in anti-cancer drugs, and sales increased for its three major products: Zoladex, prostate cancer drug Casodex, and breast cancer drug Nolvadex.

Its new anti-migrane Zomig and anti-asthma drug Accolate were also doing well, with a roll-out in the UK and Europe due to boost sales of the latter.

Growth in Europe was 9%, while drug sales in Japan fell 1% following the weak economy and firmer government price controls.

Advanced options | Search tips

Back to top | BBC News Home | BBC Homepage |

The Company File Contents

In this section

Microsoft trial mediator welcomed

Vodafone takeover battle heats up

Christmas turkey strike vote

NatWest bid timetable frozen

France faces EU action over electricity

Pace enters US cable heartland

Mannesmann fights back

Storehouse splits up Mothercare and Bhs

The rapid rise of Vodafone

The hidden shopping bills

Europe's top net stock

Safeway faces cash demand probe

Mitchell intervenes to help shipyard

New factory creates 500 jobs

Drugs company announces 300 jobs

BT speeds internet access

ICL creates 1,000 UK jobs

National Power splits in two

NTT to slash workforce

Scoot links up with Vivendi

New freedom for Post Office

Insolvent firms to get breathing space

Airtours profits jump 12%

Freeserve shares surge

LVMH buys UK auction house

Rover - a car firm's troubles