Ares-Serono 1996 Net Income Rises 82%

Geneva, Switzerland-based Ares-Serono SA says that for 1996 net incometotaled $53.5 million, 82% higher than the previous year. Operating income amounted to $95.9 million compared with $66.1 million in 1995, or 11.9% (9.7%) as a percentage of sales. Net sales increased 18% to $805 million; unaudited sales were announced earlier (Marketletter January 27).

The group's board is recommending to shareholders that they approve the creation of authorized capital of the company for use for new R&D ventures. The objective of these would be the acquisition of new and innovative technologies with a focus on the USA, in order to fill A-R's development pipeline for the 21st century. R&D spending in 1996 increased to $159.2 million ($146.1 million in 1995).