Ares-Serono Group's pharmaceutical business generated a 19.2% sales increase to $172.3 mil. during the first quarter of 1992. The company noted that first quarter sales growth was paced by infertility and pediatric endocrinology sales which grew by "more than 25%" compared to the same period last year. Pharmaceutical sales were "particularly strong in the U.S., Germany, France and Japan," Ares-Serono reported. Ares-Serono corporate sales grew 15.5% in the first quarter to $198 mil. First quarter sales growth was over 20% if unfavorable currency fluctuations are excluded, the company said. Net income from continuing operations grew 25% to $16.6 mil. in the first quarter. Including extraordinary revenue from the sale of the company's OTC business in Europe to American Home Products in March, first quarter net income totaled $44.7 mil. Diagnostic product sales declined 4.1% in the first quarter to $25.7 mil. Ares-Serono said it is discontinuing its clinical chemistry product line "in order to improve the division's gross margin." Hawthorne, N.Y.-based Taro Vit reported first quarter sales of $5.7 mil., up 23% over the same period of 1991. Net income, however, declined 19% to $517,000 "due to a significant acceleration of...generic drug research and development programs," the company said. Taro Vit reported that it currently has 17 ANDAs pending at FDA. "For certain of these products," the company added, "there are no known generic drug versions currently being marketed in the U.S."
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Advanz Pharma would have had to show that the European Commission’s decision to revoke Ocaliva’s conditional marketing approval risked causing serious and irreparable harm, according to lawyers from Van Bael & Bellis.
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