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pharma growth exceeds forecasts Despite the negative effects of the price reductions imposed on the pharma sector by the governments in our major markets and the sluggish European economy, Zambon's pharma division achieved annual sales of €405m in 2005, up more than 6% by volume and value on 2006. This result exceeds both the Group's own forecasts and growth in the world's key pharma markets during the year. The pharmaceutical sector achieved 6% growth in our core markets in Western Europe (Belgium, France, Germany, Italy, the Netherlands, Portugal, Spain and Switzerland), notwithstanding aggressive government measures to limit drug expenditure. Zambon once again outperformed the market at 7%, helped by a strong flu season, although the results remain impressive even when adjusted for this effect. Fluimucil® brand confirms solid potential Fluimucil® achieved total sales of €123m ( 10%) and increased its market share through a c