Astra As Expected In First Quarter

Turnover at Swedish pharmaceutical group Astra in the first quarter of 1996 was ahead 8% to 9.3 billion Swedish kroner ($1.3 billion). Pretax profits were 3.4 billion kroner, up 11%, and operating earnings were ahead 12% to 3.2 billion kroner. Earnings per share for the quarter amounted to 3.99 kroner, an increase of 10%. These results were in line with market expectations. The firm noted that calculated at constant exchange rates, turnover would have grown 16%.

In Europe, sales advanced 3% to 5.3 billion kroner, or 10% at CER. In North America they advanced 28%, or 39% at CER, to 2.4 billion kroner. Of this total, Astra's share in half-owned Astra Merck Inc accounted for 1.5 billion kroner, compared with 1 billion kroner in the like, year-earlier period. The wholly-owned subsidiary Astra Inc accounted for 608 million kroner.

Sales in Japan totalled 373 million kroner, down 26%, or down 11% at CER. Astra attributed this to delayed deliveries prior to general price reductions effective in Japan April 1.