IFF Q1
This article was originally published in The Rose Sheet
Executive Summary
North American fine fragrance sales advanced 10% during the first quarter on new wins and a rebound from a weak holiday season, Senior VP and Chief Financial Officer Doug Wetmore announces during April 29 analyst call. Functional fragrance revenues in the region were up 13% due to a more favorable comparison with the prior year quarter, while North American net fragrance sales for the period also increased 13%. Fragrance sales in the region are anticipated to grow in the low single digits in 2004, fragrance supplier says. Overall net sales for the quarter were up 15% to $535 mil. due to currency. Excluding restructuring and other charges from the year-ago period, net earnings jumped 24% to $56.4 mil...
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.