LONDON, Oct. 28, 2002 (PRIMEZONE) -- In the three months ended September 30, 2002, Amersham plc (LSE:AHM) (NYSE:AHM) (OSE:AHM) achieved sales of 378 million pounds (2001: 367 million pounds), up seven per cent at constant exchange rates and excluding discontinued business. Both Amersham Health and Amersham Biosciences performed well, with medical diagnostics and protein separations continuing to drive growth. Sales for the first nine months ended September 30, 2002 were 1,190 million pounds (2001: 1,150 million pounds), representing growth of seven per cent in Amersham Health and Amersham Biosciences.
Sales in Amersham Health in the third quarter were 222 million pounds (2001: 216 million pounds), up seven per cent. Medical diagnostics continued to grow strongly, led by the higher margin patented products Myoview(TM), Visipaque(TM) and Omniscan(TM) . As anticipated, sales in Japan continued to be impacted by Government price cuts introduced earlier this year, although the number of diagnostic procedures continues to grow.
Sales in Amersham Biosciences were 156 million pounds (2001: 151 million pounds), up seven per cent. Growth in protein separations improved in the third quarter and further acceleration is expected in the final quarter of the year. Discovery systems continued to show modest growth, affected by ongoing lower spend on instrumentation in the pharmaceutical sector but there was good sales growth in reagents and consumables.
Sir William Castell, Chief Executive, Amersham plc, said: "This is a good performance which reflects the breadth of our product offering and the strength of our market positions. Patented product sales in Amersham Health were up 24 per cent in the quarter and protein separations sales increased 13 per cent. In discovery systems, lower instrument sales continue to be more than offset by strong demand for higher margin reagents. The final quarter is always a key period for sales in our Biosciences business but after a good performance for Amersham in the first nine months, we remain on track to meet our full year targets."
All growth rates stated at constant exchange and excluding discontinued business.
Amersham plc (LSE:AHM) (NYSE:AHM) (OSE:AHM) is a world leader in medical diagnostics and in life sciences. Headquartered in the U.K., the company had sales of 1.6 billion pounds (U.S. $2.3 billion) in 2001 and has 9,500 employees worldwide. Its strategy is to build its position as a leading provider of products and technologies enabling disease to be better understood, diagnosed earlier and treated more effectively. Amersham bringing vision to medical discovery. For more information, visit our website at www.amersham.com
Cautionary statement for purposes of the "safe harbor" provisions ofthe United States Private Securities Litigation Reform Act of 1995 The Private Securities Litigation Reform Act of 1995 provides for a "safe harbor" for forward-looking statements. This press release contains certain forward-looking statements, which reflect the Company's views about future events and financial performance. The following important factors could cause actual results to differ materially from those projected or implied in any forward-looking statements:
1. Changes in demand for the products of Amersham plc worldwide or the markets for those products, as well as changes in management's expectation of the development of new markets and the timing of completion of various trials leading to the introduction of new products. 2. Changes in the cost or supply of raw materials, changes in interest rates and the impact of competition; and 3. Price controls and price reductions, fluctuations in exchange rates for foreign currencies, changes in governmental regulation, and the risk of loss of patents or trademarks.
Readers should also review the statements included in "Item 3. Key Information. D. Risk Factors" of the Company's Annual Report on Form-20F for the year ended December 31, 2000, filed with the United States Securities and Exchange Commission (File No. 114710) for a discussion of additional factors or events which could cause actual results to differ materially from those projected or implied in any forward-looking statements.
The foregoing factors should not be construed as exhaustive. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on these forward-looking statements. In any event, these statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise.