Schering AG: ongoing dynamic growth
Berlin, October 30. 2000; Schering AG (NYSE: SHR), Berlin, continues its
record-breaking run. "Net sales rose a total of 25% year on year to
approximately EUR3.4m; and earnings per share rose 30%," said Dr. Giuseppe
Vita, Chairman of the Board of Executive Directors of Schering AG, in his
speech to the Autumn Press Conference, presenting the figures for the first
nine months.
Prof. Dr. Klaus Pohle, Vice-Chairman of the Board of Executive Directors and
CFO told journalists: "Net income rose 27% to EUR269m. Given our strong growth
- above all in Therapeutics (+31%) and Diagnostics and Radiopharmaceuticals
(+32%) - we can revise our estimate of sales growth for the full financial
year to 23%. Net income will show a slightly higher rate of growth." Prof.
Pohle was clearly satisfied with the nine-month figures: "Our outstanding
performance in the USA, where sales rose 39%, and another excellent showing
with of our top-selling product, Betaferon(R), are proof of our lasting energy
and drive."
We continue making rapid progress in expansion of Schering AG in the USA.
Nine-month sales amounted to EUR750m. Increased volumes accounted for growth of
18% and exchange rate movements for a further 18%. In Japan, sales grew 48%
overall to EUR477m. Excluding acquisitions the increase was 26% with the strong
yen accounting for an increase of 20%. In Latin America/Canada; Schering Group
sales rose 29% to EUR345m with volumes expanding 11%. Sales in Europe amounted
to EUR1.51bn - an increase of 14% over the same period last year.
The growth in sales in Fertility Control and Hormone Therapy amounted to 15%.
Sales exceeded EUR1bn in the first nine months. Major contributions to the
growth in sales came from Meliane(R), a very low-dose oral contraceptive whose
sales increased 26%, and Climara(R), a hormone patch for the treatment of
typical climacteric complaints whose sales saw an increase of 29%. Following
approval of our oral contraceptive, Yasmin(R), in various European countries,
the product, which contains the novel active ingredient, drospirenone, will be
launched in Germany in November this year. Sales in the Therapeutics business
area rose 31% year on year to EUR1.06bn. A decisive factor was the dynamic
development of sales of Betaferon(R). Sales rose 33% to EUR440m; and our
position at the front of the European market for multiple sclerosis
preparations was again confirmed. We also recorded a high rate of growth with
Fludara(R), our treatment for chronic lymphocytic leukemia whose sales rose
36%. Diagnostics and Radiopharmaceuticals recorded growth of 32%. Sales in the
business area rose to EUR991 Millionen. The recently acquired companies, CIS
and Diatide accounted for an increase in sales of 9%. Magnevist(R), our
contrast medium for magnetic resonance imaging, exhibited strong growth of 26%.
Global sales in the Dermatology business area rose 10% to EUR166m, half of
which was due to price adjustments. Approval for the BLU-U(TM) Blue Light PDT
Illuminator in the USA rounds off our Levulan(R) PDT photodynamic therapy
system for the treatment of actinic keratosis. Distribution of the system
commenced immediately in the United States.
Given we continue to benefit from the strength of the US dollar and the yen, we
can revise our estimate of sales growth for the year 2000 to 23%. Net income
will show a slightly higher rate of growth, as it did in the first nine months
of the year. With substantial prelaunch marketing expenses for the introduction
of new products in the USA, the increase in operating profit will remain lower
than the growth in sales. There will be a considerable improvement in the
financial result.
Berlin, October 30, 2000
Schering Aktiengesellschaft
Corporate Communication
For further information please contact:
Dr. Friedrich von Heyl Hong Chow
Business and Financial Communication Investor Relations
Tel.: 030 - 468 152 96 Tel.: 030 - 468 128 38
Fax: 030 - 468 166 46 Fax: 030 - 468 166 46
[email protected] [email protected]
________________________________________________________________________________
Schering AG and MediGene start clinical trial to treat human papilloma virus
induced tumors
Berlin, Germany, October 30. 2000; Schering AG (NYSE: SHR), Berlin, and
MediGene AG (NMarkt: MDG), Munich, announced today the start of a multicenter
phase I/II clinical trial for MediGene's HPV16L1E7CVLP Vaccine to treat
pre-cancerous lesions of the cervix (CIN) caused by human papilloma
viruses (HPV).
"We are happy to initiate the first clinical trial with this promising
vaccine," said Dr. Peter Heinrich, MediGene's CEO. "The present treatments
available for pre-cancerous lesions are invasive and may cause disorders
in following pregnan-cies. We hope the study will prove that MediGene's
therapeutic vaccine offers a thorough treatment without serious side
effects to women with pre-cancerous lesions who are at risk of developing
cervical cancer."
"The unique advantage of the CVLPs is the combination of treatment and prophy-
laxis in one product which also prevents re-infection of treated patients",
comments Prof. Dr. Dr. h.c. Guenter Stock, member of the Board of Executive
Directors of Schering AG. "This biotechnology based product is both a valuable
addition to our female health program and an interesting new technology for our
oncology research activities. The potential of the CVLP vaccine will be investi-
gative for use in further projects."
Cervical carcinoma is the second most common cancer in women. Cervical cancer
and pre-cancerous lesions of the cervix are associated with the "high risk"
human papilloma virus. Despite extensive screening, there are more than 450,000
cases of cervical cancer and 350,000 annual deaths reported world-wide every
year. About 1-4% of the female population have high grade cervical dysplasia.
Common treatments for pre-cancerous lesions include cryo-/lasersurgery and
conization.
MediGene's CVLP-technology is based on chimeric virus-like particles (CVLPs)
built up by a HPV-L1E7 fusion-protein, which self-assembles into virus-like
particles able to cause a pseudo-infection. The CVLPs stimulate the immune
system both to prevent infections (prophylactic immunization) and to destroy
HPV infected cells (therapeutic immunization).
Schering AG is a research-based pharmaceutical company. Its activities are
focused on four business areas: fertility control and hormone therapy,
diagnostics and radiopharmaceuticals, dermatology as well as therapeutics
for disabling diseases, e.g. multiple sclerosis, leukemia and solid tumors.
As a global player with innovative products Schering AG aims for leading
positions in specialized markets worldwide. With in-house R&D and supported
by an excellent global network with external partners, Schering AG is
securing a promising product pipeline. Using new ideas, Schering AG aims
to make a recognized contribution to medical progress and strives to improve
the quality of life.
MediGene AG - Novel Cures for Cardiac and Cancer Diseases
MediGene AG is a publicly noted German biopharmaceutical company which
combines a broad technology platform with products in pre-clinical and
clinical development. The company has built up core competence in cardiac
and cancer diseases, two areas of high medical need and huge market
potential. Visit our website: www.medigene.de
Berlin, Germany, October 30, 2000
Schering AG
Corporate Communication
For further information please contact:
Dr. Friedrich von Heyl
Business and Financial Communication
Phone: +49 - 30 - 468 152 96
Fax: +49 - 30 - 468 166 46
[email protected]
Frank Richtersmeier
Pharma Communication
Phone: +49 - 30 - 468 176 61
Fax: +49 - 30 - 468 167 10
[email protected]
Christine Bohner
MediGene - Public Relations
Phone: +49 - 89 - 89 56 32 16
Fax: +49 - 89 - 89 56 32 20
[email protected]
________________________________________________________________________________
Schering AG and Population Council:
Worldwide Agreement to Develop and Market MENT(TM) for HRT and Contraception
Berlin, Germany, and New York, October 30. 2000; The Population Council and
Schering AG (NYSE: SHR) announced today they have concluded a licensing
agreement under which Schering AG will investigate, develop, manufacture, and
market worldwide the synthetic androgen, MENT(TM), in various delivery systems
for hormone replacement therapies (HRT) and fertility control. Under the
agreement a joint steering committee will guide development, manufacture, and
marketing.
MENT(TM) (7a-methyl-19-nortestosterone) has been found to be more potent in
early preclinical and clinical studies than the male hormone testosterone, in
maintaining muscle mass, potency, and libido. In contrast to testosterone,
MENT(TM) does not enlarge the prostate as much as testosterone does which may
result in safer medical use. MENT(TM) can be delivered through the skin or with
subdermal implants into the blood stream, avoiding metabolism by the liver and
enabling sustained delivery with stable plasma levels.
Replacement of testosterone is currently indicated for males suffering from
hypogonadism and this is achieved today with frequent intramuscular injections
which can be painful and require sufferers to visit their medical practitioner
regularly with associated costs and negative impact on quality of life. "Use
of MENT(TM) in this indication either transdermally or as an implant which
might last for a year or more would be a significant benefit for these
patients," said Professor Guenter Stock, Member of the Board of Executive
Directors of Schering AG.
In the future MENT(TM) may provide a useful supplement for falling testosterone
levels in ageing men, possibly restoring vitality and protecting bones rather
like the HRT available for women today. Another important use may be found in
male fertility control where, in contrast to the experimental hormone
techniques of today, no female hormones may be required and the use of a single
hormone could be possible. In both these areas long-term increased safety which
may stem from less effect on the prostate with MENT(TM) will also be of
paramount importance.
Schering AG is a research-based pharmaceutical company. Its activities are
focused on four business areas: fertility control and hormone therapy,
diagnostics and radiopharmaceuticals, dermatology as well as therapeutics for
disabling diseases, e.g. multiple sclerosis, leukemia and solid tumors. As a
global player with innovative products Schering AG aims for leading positions
in specialized markets worldwide. With in-house R&D and supported by an
excellent global network with external partners, Schering AG is securing a
promising product pipeline. Using new ideas, Schering AG aims to make a
recognized contribution to medical progress and strives to improve the
quality of life.
The Population Council is an international, nonprofit organization concerned
with reproductive health, population and social policy issues around the world.
The Council conducts biomedical, social science, and public health research and
helps build research capacities in developing countries. Through its Center for
Biomedical Research, the Council develops and tests innovative products that
respond to the reproductive health needs of women and men.
Berlin, Germany, October 30, 2000
Schering AG
Corporate Communication
For further information please contact:
Dr. Friedrich von Heyl
Business and Financial Communication
Phone: +49 - 30 - 468 152 96
Fax: +49 - 30 - 468 166 46
[email protected]
Dr. Monika Klutz-Specht
Pharma Communication
Phone: +49 - 30 - 468 154 35
Fax: +49 - 30 - 468 167 10
[email protected]
________________________________________________________________________________
Schering AG announces further spin-offs
Berlin, October 30. 2000; Schering AG (NYSE: SHR), Berlin, announced today the
spin-off of the complete inhalation business of its subsidiary Leiras Oy, Fin-
land. The name of the new company will be Focus Leiras Oy which will be sold
to a group of investors. "By this spin-off we follow up on our strategy to
focus our activities on specific markets," said Prof. Klaus Pohle, Vice
Chairman of the Board of Executive Directors of Schering AG and CFO. He added
that "Schering AG was amongst the first German companies to concentrate
business activities on core competencies".
Leiras Oy was acquired by Schering AG in 1996 to consolidate its leadership
in female healthcare. Focus Leiras Oy will be operational as of November 1st,
2000. Leiras Oy will keep a minority shareholding position in the new company.
Schering AG will also spin-off its Biotech-subsidiary metaGen GmbH during the
first quarter 2001. The company will be converted into a public limited company
before its initial public offering late 2002.
metaGen was founded by Schering AG in 1996 and has built special expertise in
functional genomics with a special focus in oncology. The company is currently
headed by Prof. Andre Rosenthal, one of the leading German scientists in the
field of genomics, who will continue to work with metaGen. Under his leadership
metaGen has concentrated its efforts on certain types of tumors which are or
will be important for Schering AG's oncology franchise, most notably, breast
and prostate. "Since metaGen's assets and its integrated technology platform
hold promise to be applicable to other indication areas too, we have decided
to spin-off metaGen in order to capitalize on the company's expanded business
activities," said Prof. Klaus Pohle. To achieve this goal, the amount of
employees will be increased from currently 30 to approximately 120 in the
coming 18 months. metaGen's future business model will include target
discovery, target validation and predictive medicine. Schering AG is currently
talking to a limited number of interested venture capital partners to attract
external capital for metaGen's financial requirements in the coming two years.
Schering AG is a research-based pharmaceutical company. Its activities are
focused on four business areas: fertility control and hormone therapy, diag-
nostics and radiopharmaceuticals, dermatology as well as therapeutics for
disabling diseases, e.g. multiple sclerosis, leukemia and solid tumors.
As a global player with innovative products Schering AG aims for leading
positions in specific markets worldwide. With in-house R&D and supported
by an excellent global network with external partners, Schering AG is
securing a promising product pipeline. Using new ideas, Schering AG aims
to make a recognized contribution to medical progress and strives to
improve the quality of life.
Berlin, October 30, 2000
Schering Aktiengesellschaft
Corporate Communication
For further information please contact:
Dr. Friedrich von Heyl Hong Chow
Business and Financial Communication Investor Relations
Tel.: 030 - 468 152 96 Tel.: 030 - 468 128 38
Fax: 030 - 468 166 46 Fax: 030 - 468 166 46
[email protected] [email protected]
