Fresenius SE Hit By U.S. Cuts, Weak Blood Substitute Sales
5/6/2014 7:01:01 AM
First quarter earnings at German healthcare group Fresenius SE grew more slowly than expected, hurt by spending cuts in the United States and China and lower sales of a blood substitute product. The drugmaker, which also operates hospitals and controls dialysis provider Fresenius Medical Care, said on Tuesday adjusted net income rose 2 percent to 228 million euros ($316 million), short of the 244 million euro average estimate in a Reuters poll. Its generic injectable drugs business suffered from price cuts in China and lower sales of a blood substitute called HES, an emergency treatment for sudden blood loss.
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