Serono reports strong third quarter, ends period with liquid assets of $2.1 billion

By Lisa Kerner

Charlotte, N.C., Oct. 19 - Serono International SA ended the third quarter on Sept. 30 with liquid financial assets of $2.1 billion, according to a company news release.

The company's strong quarter also included total revenues of $699.1 million, up 9.5% from $638.3 million for the prior-year period.

Product sales rose 8.4% to $619.2 million, including Rebif worldwide sales of $374.8 million, from $571.5 million for the third quarter of 2005.

Serono reported operating income in the third quarter of $199.6 million, a 25.2% increase over $159.4 million of operating income for the same quarter of 2005.

Adjusted net income increased 15.5% to $183.5 million from $158.9 million for the third quarter of 2005.

Serono had research and development expenses in the third quarter of $141.3 million, slightly less than the $146.9 million reported for the third quarter of 2005.

The Geneva, Switzerland biotechnology company said its net cash flow from operating activities for the first nine months was $750.0 million, compared with $555.0 million for the year-ago period.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.