SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    ________

                                    FORM 6-K

                        REPORT OF FOREIGN PRIVATE ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                          For the month of March, 2004

                                   Serono S.A.
                    ----------------------------------------
                               (Registrant's Name)

                            15 bis, Chemin des Mines
                                 Case Postale 54
                                CH-1211 Geneva 20
                                   Switzerland
                    ----------------------------------------
                    (Address of Principal Executive Offices)

                                    1-15096
                    ----------------------------------------
                              (Commission File No.)

     (Indicate  by  check  mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)

     Form  20-F  X   Form  40-F
                ---             ---

     (Indicate  by  check  mark  if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(1).) ______

     (Indicate  by  check  mark  if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101 (b)(7).) ______

     (Indicate  by  check  mark  whether  the  registrant  by  furnishing  the
information contained in this form is also thereby furnishing the information to
the  Commission  pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)

     Yes        No  X
          ----     ---

     (If  "Yes"  is  marked,  indicate  below  the  file  number assigned to the
registrant in connection with Rule 12g3-2(b): 82-______)



                                                                    SERONO
                                                               [GRAPHIC  OMITED]


MEDIA  RELEASE


FOR  IMMEDIATE  RELEASE
-----------------------


  TREATMENT WITH SEROSTIM DECREASED VISCERAL ADIPOSE TISSUE IN STUDY OF PATIENTS
           WITH HIV-ASSOCIATED ADIPOSE REDISTRIBUTION SYNDROME (HARS)

            STUDY OF PATIENTS WITH HARS PUBLISHED IN JOURNAL OF AIDS

ROCKLAND,  MA,  MARCH  1,  2004-SERONO  (VIRT-X  SEO  AND  NYSE:  SRA)-Serono's
Serostim(R)  [somatropin  (rDNA  origin)  for  injection]  administered  daily
decreased  visceral  adipose  tissue  in  patients  with  HIV-associated adipose
redistribution  syndrome,  according  to  study  data  published  in the current
edition  of the Journal of AIDS.(1)

Some  people  with  AIDS or HIV infection develop HARS or HIV-associated adipose
redistribution  syndrome,  an  excessive  build  up  of  visceral adipose tissue
combined  with  metabolic  abnormalities.  No  medical  treatment  is  currently
approved  to  treat  HARS.

"While further study is needed, Serostim(R) has promise as a potential treatment
for  visceral  fat  accumulation  in patients with HARS," said Donald P. Kotler,
M.D.,  St.  Luke's  Roosevelt Hospital, New York, and a lead investigator in the
study.

The  Serostim(R)  in  the  Treatment  of Adipose Redistribution Syndrome (STARS)
trial  was  a  multi-center,  randomized, double-blind, placebo-controlled study
that  included  239 patients at trial sites located throughout the US. The study
was designed to evaluate the efficacy and safety of Serostim(R) therapy at doses
of  4  mg  daily  or  every other day for a period of 12 weeks as a treatment of
abnormal  visceral  adipose  tissue  accumulation  in HIV-infected patients with
HARS.

The  results  showed  that  the  decrease  in visceral adipose tissue was highly
significant  in  the  Serostim(R)  4  mg  daily  group  (p<0.001) as compared to
placebo.  The  study  also  showed  that  the "trunk to limb fat ratio," another
measure of fat distribution, was significantly reduced in both the Serostim(R) 4
mg  daily  (p<0.001)  and  alternate  day  (p<0.001) groups compared to placebo.

_______________
1  Kotler,  D,  Muurahainen,  N,  et  al.  Effects of Growth Hormone on Abnormal
Visceral  Adipose Tissue Accumulation and Dyslipidemia in HIV-Infected Patients.
Journal  of  AIDS  2004,  Volume  35,  Number  3,  March  1 2004, pp. 239 - 252.


                                                                             1/3

Among  the  study's  secondary  endpoints  was  an evaluation of serum total and
non-HDL  cholesterol  which  declined significantly in both the Serostim(R) 4 mg
daily  (p<0.005) and alternate day (p<0.015) dose groups compared to the placebo
group.

Adverse reactions reported during this clinical trial were consistent with those
expected within the current approved indication for Serostim(R).

ABOUT HARS
HIV-associated  adipose  redistribution  syndrome  or  HARS  is  a subset of HIV
lipodystrophy.  HIV-associated  lipodystrophy  is  characterized by a variety of
metabolic  disturbances  and  body  shape  abnormalities  that  may  present
individually  or  in  combination.

Patients  with  HARS  experience  abnormal, pathological accumulation of adipose
tissue,  which  may  be  present  with or without fat depletion and/or metabolic
abnormalities.  In  general,  HARS  patients  accumulate excess visceral adipose
tissue  in the abdomen or may develop a fat pad on the upper back commonly known
as  a  "buffalo  hump."

ABOUT  SEROSTIM(R)
Serostim(R)  [somatropin (rDNA origin) for injection] is the only growth hormone
approved  by  the  US  Food  and  Drug  Administration  for  the  treatment  of
HIV-associated  wasting  or cachexia. The recommended dose is 0.1 mg/kg daily (6
mg/day  for  patients  > 55 kg). Serostim(R) 0.1 mg/kg every other day should be
considered  as  a  starting  dose  in  patients thought to be at risk of certain
adverse  effects,  i.e.,  glucose  intolerance.

In  patients with HIV-associated wasting, Serostim(R) has a generally manageable
side  effect profile. The most common adverse events associated with Serostim(R)
therapy  are mild to moderate muscle and joint pain and swelling, which occur in
a  dose-related  manner  and  often  subside  with  continued  treatment or dose
reduction.  Cases  of  new  onset impaired glucose intolerance, new onset Type 2
diabetes  mellitus  and  exacerbation of preexisting diabetes mellitus have been
reported  in  patients  receiving  Serostim(R).  Some  patients develop diabetic
ketacidosis  and  diabetic  coma.  In  some  patients,  therapy with Serostim(R)
necessitated  initiation or adjustment of anti-diabetic treatment. Patients with
a  history of hyperglycemia or other risk factors for glucose intolerance should
be  monitored  closely during treatment with Serostim(R). Transient increases in
glucose  levels  occur  early  in  treatment  and  should  be  monitored.

Use  of  growth hormone is contraindicated in treatment of patients in intensive
care  units  due  to  complications  following  open-heart  surgery or abdominal
surgery,  multiple accidental trauma or acute respiratory failure; patients with
active  neoplasia;  and  patients with known hypersensitivity to growth hormone.
Serostim(R) must be used in conjunction with antiretroviral therapy.

Full  prescribing  information  for  Serostim(R),  including  important  safety
information,  is  available  at  www.serostim.com.
                                 ----------------


                                                                             2/3

ABOUT  SERONO
Serono,  Inc.,  located in Rockland, MA, is the US affiliate of Serono, a global
biotechnology  leader,  headquartered  in  Geneva,  Switzerland. The Company has
seven  recombinant  products,  Rebif(R)  (interferon  beta-1a),  Gonal-F(R)
(follitropin  alfa  for  injection),  Luveris(R)  (lutropin  alfa),
Ovidrel(R)/Ovitrelle(R)  (choriogonadotropin  alfa  injection),  Serostim(R)
[somatropin  (rDNA  origin)  for injection], Saizen(R) [somatropin (rDNA origin)
for  injection]  and  Zorbtive(TM)  [somatropin  (rDNA  origin)  for injection].
(Luveris(R)  is  not  approved  in  the  USA.)(2) In addition to being the world
leader  in reproductive health, Serono has strong market positions in neurology,
metabolism  and  growth.  The Company's research programs are focused on growing
these businesses and on establishing new therapeutic areas. Currently, there are
approximately  30  ongoing  development  projects.

In  2003,  Serono  achieved  worldwide revenues of US$2,018.6 million, and a net
income  of  US$390.0 million, making it the third largest biotech company in the
world. Its products are sold in over 90 countries. Bearer shares of Serono S.A.,
the  holding company, are traded on the virt-x (SEO) and its American Depositary
Shares  are  traded  on  the  New  York  Stock  Exchange  (SRA).


                                       ###

Some  of  the  statements  in  this  press  release  are  forward  looking. Such
statements  are inherently subject to known and unknown risks, uncertainties and
other  factors  that  may  cause  actual results, performance or achievements of
Serono  S.A.  and  affiliates  to be materially different from those expected or
anticipated  in  the  forward-looking statements. Forward-looking statements are
based on Serono's current expectations and assumptions, which may be affected by
a  number  of  factors, including those discussed in this press release and more
fully  described  in  Serono's  Annual  Report  on Form 20-F filed with the U.S.
Securities and Exchange Commission on April 17, 2003.  These factors include any
failure  or  delay  in  Serono's ability to develop new products, any failure to
receive  anticipated  regulatory  approvals,  any  problems  in  commercializing
current  products  as  a  result of competition or other factors, our ability to
obtain  reimbursement  coverage  for  our  products,  and government regulations
limiting  our  ability  to  sell  our  products. Serono has no responsibility to
update the forward-looking statements contained in this press release to reflect
events or circumstances occurring after the date of this press release.


                                       ###


FOR MORE INFORMATION, PLEASE CONTACT:

SERONO, INC., ROCKLAND, MA
MEDIA RELATIONS:                 INVESTOR  RELATIONS:
Tel.  +1 781 681 2340            Tel.  +1 781 681 2552
Fax:  +1 781 681 2935            Fax:  +1 781 681 2912

SERONO IN GENEVA, SWITZERLAND:
MEDIA  RELATIONS:                INVESTOR  RELATIONS:
Tel:  +41-22-739 36 00           Tel:  +41-22-739 36 01
Fax:  +41-22-739 30 85           Fax:  +41-22-739 30 22
http://www.serono.com            Reuters:  SEOZ.VX / SRA.N
---------------------            Bloomberg:  SEO VX / SRA US



_______________
2  Package  inserts  for  Serono's  US  marketed  products  are  available  at
www.seronousa.com  or  by  calling  1-888-275-7376.
-----------------


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                                   SIGNATURES

     Pursuant  to  the  requirements of the Securities Exchange Act of 1934, the
registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned,  thereunto  duly  authorized.



                                            SERONO  S.A.
                                            a  Swiss  corporation
                                            (Registrant)



March 1, 2004                         By:   /s/  Allan  Shaw
                                            ----------------------------
                                            Name:  Allan  Shaw
                                            Title:    Chief Financial Officer