Schering’s imaging sales fall

March 17, 1999

Revenues in Schering’s diagnostics business unit fell 6% in 1998, the German contrast agent developer reported last month. The Berlin-based company attributed the fall primarily to exchange-rate effects, while falling contrast media prices also had

Revenues in Schering’s diagnostics business unit fell 6% in 1998, the German contrast agent developer reported last month. The Berlin-based company attributed the fall primarily to exchange-rate effects, while falling contrast media prices also had an impact. Diagnostics sales fell particularly hard in the fourth quarter, the company said.

For the year (end-December), Schering posted imaging sales of DM 1.48 billion ($837.5 million), compared with DM 1.58 billion ($892.4 million) in 1997. Of total sales last year, x-ray contrast media accounted for DM 1.08 billion ($613.4 million), while MRI contrast sales totaled DM 388 million ($219.6 million). For the entire company, Schering reported that sales climbed 3% before exchange-rate adjustments to DM 6.42 billion ($3.64 billion), and the company reported 7% growth in net income, to DM 478 million ($270.5 million).