BioMerieux First-Half Net Rises 5.8 Percent

BioMerieux said first-half profit rose 5.8 percent as higher sales in Latin America helped make up for a slowdown in the U.S.

Net income climbed to 56.5 million euros ($81 million) from 53.4 million euros a year earlier, the Marcy l'Etoile, France-based company said in an e-mailed statement. The company's U.S. business faces slower growth, Chief Executive Officer Stephane Bancel said.

U.S. clients curbed spending on diagnostic instruments, Bancel said in a conference call with reporters today. Siemens AG, Europe's largest maker of medical diagnostic equipment, said in February the U.S. healthcare market will recover after 2008 as government spending likely rebounds following the presidential elections.

``We had a strong drop in instruments in the U.S,'' Bancel said. ``All of the product range is suffering.'' The CEO said sales growth of diagnostic agents is linked to new instruments and will slow down in the U.S., without giving a detailed forecast.

BioMerieux repeated its target for overall 2008 sales to increase between 7.4 and 9 percent, excluding the impact of currency movements. The operating margin from continuing businesses on that basis will be close to 15.7 percent.

Source: Bloomberg