Schering net sales for the first six months of 2006 up 11% to €2.824 billion

By Lisa Kerner

Charlotte, N.C., July 25 - The Schering AG Group said for the first six months of 2006 net sales increased by 11% to €2.824 billion.

Net profit decreased by 6% to €301 million for the period.

Earnings per share for the six-month period were also down 6% to €1.58.

The company's top-selling products had dynamic growth in the first half of the year; with sales of the multiple sclerosis drug Betaferon increasing 17% to €48.1 million and sales of Yasmin, an oral contraceptive, up 33% to €351million.

Net sales in major regional markets also increased, including Europe, up 9%, the United States, up by 14%, Latin America/Canada, up 24%, and the Asia/Pacific region, up 20%.

Adjusted for one-time effects relating to company divestitures and takeover related expenses, Schering's operating profit increased by 20% to €559 million, with a corresponding operating margin of about 20%.

Including the one-time effects, the operating profit decreased 12% below the previous year's figure, to €410 million.

Schering said it expects an organic net sales growth in the high single-digit range for the fiscal-year 2006.

The company also anticipates its operating margin for 2006 to be in the range of 18.5% to 19%.

Schering is a research-based pharmaceutical company located in Berlin, Germany.

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