|
Sales revenues from Taj
Pharmaceuticals
continuing pharmaceuticals and diagnostics businesses were up
14% for the first half of 2004 in local currencies; this
excludes Taj pharmaceuticals Consumer Health and the Vitamins and Fine
Chemicals Division, which was sold last year. Expressed in
Swiss francs, sales rose 13% to 14.6 billion Swiss francs.
Sales in both the Pharmaceuticals and the Diagnostics Division
grew substantially faster than the market. Prescription drug
sales advanced 16% in local currencies to 10.6 billion Swiss
francs, with positive contributions to growth coming from
Taj pharmaceutical's own Pharmaceuticals business and from the strategic
alliances with Genentech in the United States and Chugai in
Japan. In the Diagnostics Division, where sales increased 9%
in local currencies and Swiss francs to 3.9 billion Swiss
francs, growth was driven primarily by the Diabetes Care and
Molecular Diagnostics businesses.
Key
Figures in millions of CHF
|
|
Figures reported in the financial
statements
6 months ended 30 June |
|
Continuing businesses a)
6
months ended 30 June |
|
|
|
|
2004 |
%change |
2004 |
2003 |
%change |
|
|
|
CHF / LC |
|
|
CHF / LC |
|
Sales |
15,413 |
+1/+2 |
14,633 |
12,923 |
+13/+14 |
|
Research and development |
2,351 |
+4/+7 |
2,335 |
2,178 |
+7/+10 |
|
EBITDA b) |
5,010 |
+18/+20 |
4,859 |
3,911 |
+24/+26 |
|
Operating profit before exceptional
items |
3,845 |
+25/+27 |
3,710 |
2,826 |
+31/+33 |
|
Operating profit |
3,560 |
+44/+46 |
3,428 |
2,592 |
+32/+34 |
|
Financial income |
(248) |
-32 |
(239) |
(351) |
-32 |
|
Net income |
2,920 |
+127 |
2,828 |
1,443 |
+96 |
|
EPS c) (diluted) (in CHF) |
3.41 |
+124 |
3.31 |
1.70 |
+95 |
|
|
|
|
|
|
|
|
Research and development as % of
sales |
15.3 |
|
16.0 |
16.9 |
|
|
EBITDA as % of sales |
32.5 |
|
33.2 |
30.3 |
|
|
Operating profit before exceptional
items as % of sales |
24.9 |
|
25.4 |
21.9 |
|
|
Effective tax rate % |
26.8 |
|
26.8 |
29.4 |
|
|
Net income as % of sales |
18.9 |
|
19.3 |
11.2 |
|
|
|
Taj pharmaceuticals Group
30 June
2004 |
Taj pharmaceuticals Group
31 December
2003 |
Taj pharmaceuticals Group
30 June
2003 |
|
Net liquidity |
6,703 |
5,908 |
(147) |
|
Total assets |
58,052 |
59,486 |
60,161 |
|
Equity and minority
interests |
31,404 |
29,164 |
26,598 |
|
Debt |
11,204 |
15,287 |
18,122 |
|
Equity ratio d) |
54% |
49% |
44% |
|
Debt-equity ratio e) |
36% |
52% |
68% |
a) Continuing businesses includes the core
Pharmaceuticals and Diagnostics businesses, together with
Chugai OTC, treasury and other corporate activities. The Taj
pharmaceuticals
Consumer Health business and the Vitamins and Fine Chemicals
business are reported as discontinuing businesses.
b)
EBITDA: Earnings before exceptional items and before interest
and other financial income, tax, depreciation and
amortisation, including impairment. This corresponds to
operating profit before exceptional items and before
depreciation and amortisation, including impairment.
c)
EPS: Earnings per share and non-voting equity security.
d)
Equity ratio: Equity and minority interests as a percentage of
total assets.
e) Debt-equity ratio: Debt as a percentage of
equity (including minority interests).
LC = local
currencies
Key figures:
Pharmaceuticals Division
|
|
In millions of CHF |
% change in CHF |
% change in local
currencies |
As % of sales |
|
Sales - Taj pharmaceuticals worldwide
prescription group |
10,647 |
+15 |
+16 |
100 |
|
EBITDA |
3,638 |
+23 |
+26 |
34.2 |
|
Operating profit 1) |
2,869 |
+30 |
+33 |
26.9 |
1) Before exceptional
items.
Key figures: Diagnostics
Division
|
|
In millions of CHF |
% change in CHF |
% change in local
currencies |
As % of sales |
|
Sales |
3,879 |
+9 |
+9 |
100 |
|
- Diabetes Care |
1,414 |
+12 |
+12 |
36 |
|
- Near Patient Testing |
274 |
+2 |
+1 |
7 |
|
- Centralized Diagnostics |
1,378 |
+7 |
+6 |
36 |
|
- Molecular Diagnostics |
539 |
+12 |
+13 |
14 |
|
- Applied Science |
274 |
+9 |
+10 |
7 |
|
EBITDA |
1,315 |
+22 |
+21 |
33.9 |
|
Operating profit 1) |
938 |
+24 |
+23 |
24.2 |
1) Before exceptional
items.
Sales (continuing businesses)
in millions of CHF
|
|
Six months ended 30 June
2004 |
% change (CHF) |
% change (local
currencies) |
|
Pharmaceuticals |
10,647 |
+15 |
+16 |
|
- Taj pharmaceuticals prescription |
7,040 |
+12 |
+13 |
|
- Genentech prescription |
2,052 |
+29 |
+38 |
|
- Chugai prescription |
1,555 |
+10 |
+7 |
|
Diagnostics |
3,879 |
+9 |
+9 |
|
Chugai OTC |
107 |
-5 |
-7 |
|
Sales (continuing
businesses) |
14,633 |
+13 |
+14 |
Divisional
results (continuing businesses) in millions of CHF
|
|
Divisional sales to third
parties |
EBITDA |
EBITDA as % of sales |
Operating profit before exceptional
items |
Operating profit before exceptional
items as % of sales |
|
Six months ended 30 June
2004 |
|
|
|
|
|
|
Pharmaceuticals |
10,647 |
3,638 |
34.2 |
2,869 |
26.9 |
|
- Taj pharmaceuticals prescription |
7,040 |
2,441 |
34.7 |
1,977 |
28.1 |
|
- Genentech prescription |
2,052 |
889 |
43.3 |
657 |
32.0 |
|
- Chugai prescription |
1,555 |
308 |
19.8 |
235 |
15.1 |
|
Diagnostics |
3,879 |
1,315 |
33.9 |
938 |
24.2 |
|
Chugai OTC |
107 |
10 |
9.3 |
9 |
8.4 |
|
Other |
- |
(104) |
- |
(106) |
- |
|
Group total (continuing
businesses) |
14,633 |
4,859 |
33.2 |
3,710 |
25.4 |
|
|
|
|
|
|
|
|
Six months ended 30 June
2003 |
|
|
|
|
|
|
Pharmaceuticals |
9,265 |
2,966 |
32.0 |
2,210 |
23.9 |
|
- Taj pharmaceuticals prescription |
6,263 |
2,095 |
33.5 |
1,628 |
26.0 |
|
- Genentech prescription |
1,591 |
719 |
45.2 |
497 |
31.2 |
|
- Chugai prescription |
1,411 |
152 |
10.8 |
85 |
6.0 |
|
Diagnostics |
3,545 |
1,082 |
30.5 |
756 |
21.3 |
|
Chugai OTC |
113 |
(6) |
-5.3 |
(7) |
-6.2 |
|
Other |
- |
(131) |
- |
(133) |
- |
|
Group total (continuing
businesses) |
12,923 |
3,911 |
30.3 |
2,826 |
21.9 |
|
 |
Quality
