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NAPROSYN/ANAPROX U.S. SALES JUMP 34% IN FIRST QUARTER TO $146 MIL.; SYNTEX TIES INCREASE TO ANAPROX LINE EXTENSION; SYNTEX' WORLDWIDE NSAID SALES TOP $200 MIL.

Executive Summary

U.S. sales volume of the Naprosyn/Anaprox product line increased 34% during the first quarter to $146 mil., Syntex reported for the three months ended Oct. 31. "Strong gains in sales of double-strength naproxen sodium (Anaprox) tablets, introduced in the U.S. in the third quarter of fiscal 1988, contributed to the total sales increase," Syntex noted. Sales of Naprosyn and Anaprox were up 8% outside the U.S. to $58 mil., resulting in a worldwide volume gain of 25% to $204 mil. The two nonsteroidal anti-inflammatory products made up more than two-thirds of Syntex' worldwide pharmaceutical sales in the first quarter, which rose 17% to $293 mil. Pharmaceutical sales in the U.S. made up the lion's share, increasing 20% to $197 mil. Non-U.S. drug sales of $96 mil. reflected an 11% gain. The performance of other segments of Syntex' pharmaceutical business was less spectacular. Gains in the company's "other" business (up 7% to $38 mil.) and dermatological drug products (up 4% to $26 mil.) were offset by declines in the reproductive and animal health catagories, off 8% to $26 mil. and 13% to $22 mil., respectively. Corporate volume rose 14% during the three months to almost $350 mil., Syntex reported, while net income approached the $100 mil. mark, increasing 25% to $95 mil. "Spending for R&D increased 21% to $57 mil. in the first fiscal quarter," the company said. "R&D spending was 16% of sales in the quarter and is expected to increase as the year progresses to approximately 18% for the fiscal year." Table or Chart Omitted
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