40789 Monheim, de
+49 (2173) 48-1238
SCHWARZ PHARMA gets off to a good start
Three Months Report 2008
The operating result of the SCHWARZ PHARMA group in the first quarter, compared to the prior year period, showed a satisfactory trend.
The group's financial result improved considerably year-on-year. Within the scope of integration into the UCB group, SCHWARZ PHARMA granted an interestbearing vendor loan, generating interest income in the first quarter which was distinctly higher than that recorded in the previous year.
The net result was hence better than in the same quarter of the prior year.
For 2008, SCHWARZ PHARMA plans to make additional investments at the production sites in Shannon/Ireland (fine chemicals) and Zwickau/Germany (bulk manufacture). These projects are progressing as planned.
SCHWARZ PHARMA is maintaining its sales estimate of around €400 million for full fiscal year 2008. The impact of the inability to deliver Neupro® in the USA, announced in March 2008, and the effect of possible measures to restore the ability to deliver are not foreseeable at present. SCHWARZ PHARMA will in all likelihood have a better insight into the situation at the time when its half-year financial report is published. Due to the start-up expenses for producing the drug fesoterodine, SCHWARZ PHARMA continues to expect a negative net result for 2008.
1 As part of the process of integrating SCHWARZ PHARMA AG into the UCB group, 13 affiliated companies ceased to belong to the company's scope of consolidation as per end of fiscal year 2007. All details on the prior year period only relate to continuing operations.
This outlook does not include earnings from the divestment of products or partnerships.
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