Nycomed reports sustained momentum in second quarter 2009
Nycomed reports sustained momentum in the second quarter 2009, with total net turnover increasing by 0.5% to €786.9 million excluding the impact of the Sepracor execution payment received in the first half of 2008. This performance is driven by Nycomed's Key Products. Pantoprazole turnover in Europe dropped only moderately after loosing patent protection in May. On a regional basis, most Nycomed markets performed in line with or above expectations. The pipeline portfolio advanced significantly. Daxas® was filed for approval in the EU and US and Nycomed has agreed with Forest Laboratories on the commercialisation of Daxas® in the US. European approvals were achieved for Instanyl®, for breakthrough cancer pain, and for Pantoprazole OTC.
Adjusted EBITDA increased by 2.5% to €254.8 million (Q2/08: €248.7 million) when excluding the Sepracor payment. In spite of the loss of the substance patent in major EU markets, total turnover of Pantoprazole declined only slightly, down 1.4% during the second quarter. Turnover of Specialty and Respiratory products increased by 6.9% in the second quarter.
Håkan Björklund, CEO, commented on the company's results: "The second quarter saw important advances in our pipeline. Daxas was filed for approval in Europe in early May and in the US in July. We are also very pleased to have agreed with Forest Laboratories on the US commercialisation of Daxas. We believe they are the best partner for Nycomed in this key market. Despite the global downturn and currency effects, Nycomed delivered a solid performance in the first half year, sustaining its momentum."
About Nycomed Nycomed is a privately owned global pharmaceutical company with a differentiated portfolio focused on branded medicines in gastroenterology, respiratory and inflammatory diseases, pain, osteoporosis and tissue management. An extensive range of OTC products completes the portfolio.
Its R&D is structured around partnerships and in-licensing is a cornerstone of the company's growth strategy.
Nycomed employs 12,000 associates worldwide, and its products are available in more than 100 countries. It has strong platforms in Europe and in fast-growing markets such as Russia/CIS and Latin America. While the US and Japan are commercialised through best-in-class partners, Nycomed plans to further strengthen its own position in key Asian markets.
Headquartered in Zurich, Switzerland, the company generated total sales of €3.4 billion in 2008 and an adjusted EBITDA of €1.2 billion.
For more information visit www.nycomed.com.