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news.As Swiss biotech company Serono released strong financial results for the first quarter of 2006, the company's chief executive has reaffirmed that the company intends to actively pursue growth through acquisitions.
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The company's total revenues were up 11% to $667.5 million and product sales up 7.9% to $594.9million. This was driven by strong sales of the company's multiple sclerosis drug Rebif and its infertility treatment Gonal-f.
In an interview with the Financial Times, Ernesto Bertarelli, CEO of Serono, indicated that the company was likely to purchase products which would enhance the company's existing presence in the areas of oncology, central nervous system and immune system disorders. The company is reportedly willing to commit up to $10 billion to acquisitions.
“I am pleased with the performance of our Reproductive Health franchise, particularly in the US, as well as with the underlying growth of our Rebif worldwide sales of 17.7%,” said Mr Bertarelli. “Moving forward we will continue to invest in our existing businesses and R&D pipeline, and we intend to actively pursue opportunities for growth through acquisitions.”