Rhone-Poulenc Rorer Inc. reported a 31% increase...

Rhone-Poulenc Rorer Inc. reported a 31% increase in fourth-quarter profit, helped by proceeds from the sale of its U.S. non-prescription drug business to Ciba-Geigy Corp.

The Collegeville, Pa.-based company, a subsidiary of Paris-based pharmaceutical and chemical company Rhone Poulenc, said it earned $163 million, or $1.22 a share, compared to $124 million, or 90 cents a share, in the final quarter of 1993. Fourth-quarter sales rose 14% to $1.29 million from $1.14 billion in 1993.

The company gained $27 million, primarily from the sale of the over-the-counter drug business, which includes the antacid Maalox. That gain was offset by increased spending for research and development.