Fresenius H1 net income up 20 percent on generic drugs

FRANKFURT (Reuters) - German healthcare conglomerate Fresenius SE & Co posted a 20 percent gain in first-half net income as its injectable generic drugs unit Kabi benefits from rivals' supply shortages.

Fresenius, which failed to take over Rhoen-Klinikum, said adjusted net income in the first six months rose to 434 million euros ($534 million), broadly in line with the average estimate of 429 million in a Reuters poll among analysts.

Fresenius confirmed its full-year outlook for sales to increase by 12-14 percent and adjusted net income to gain by 14-16 percent, both adjusted for currency swings.

In June raised its 2012 profit outlook for a second time this year as its injectable generic drugs unit won windfall profits from rivals' production blunders in the United States.

Fresenius said it "remains convinced of the merits of combining Rhoen-Klinikum with (Fresenius hospitals unit) Helios, and continues to assess its options". ($1 = 0.8120 euros)

(Reporting by Ludwig Burger)

Source: http://news.yahoo.com/fresenius-h1-net-income-20-percent-generic-drugs-052244360--sector.html

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