Schering hit by currency woes and lower prices:
This article was originally published in Clinica
Increased sales in volume terms at German company Schering's diagnostics division were not enough to compensate for lower prices and currency effects in the first half of 1998. Diagnostic sales fell 4% to DM737 million ($416 million), with sales of X-ray contrast media fell 1% to DM549 million. Sales of MRI products fell 13% to DM184 million, largely due to stock reductions by US partner, Abbott Laboratories. The Berlin-based company's total sales increased 4% to DM3,216 million, while net income rose 8% to DM307 million.