Nycomed annual results 2006

04.04.2007The financial results reported in this press release are related to Nycomed A/S, which, through its subsidiaries and affiliates, comprises all of the Nycomed Group’s operations. A full annual report is available under | investors | financials.


Very satisfactory results in 2006

Nycomed’s net turnover grew by 16.4% in 2006 to € 869.9 million. Adjusted for currency impact, net turnover increased by approx. 17%. The results are based on satisfactory growth in most of our established home markets, despite the intensified focus on cost containment from health authorities and increasing generic competition.

Strong growth was achieved in Central Europe, and the build-up of activities in Big Five continued and resulted in an increased net turnover of 38%, mainly driven by sales of newly launched TachoSil®. Russia-CIS continued its impressive growth path and increased net turnover by 47% during 2006.

The Group’s adjusted EBITDA (see Financial Background) reached € 180.7 million in 2006, representing an increase of 15.4% over 2005. Adjusted for the negative impact from foreign currency fluctuations, adjusted EBITDA increased by approx. 17.2%.

Key events during 2006

The top event of 2006 was the acquisition of ALTANA Pharma AG, which was agreed on 21 September. Following the acquisition, Nycomed is more than tripled in size with access to more than 40 countries and a combined group net turnover of approx. € 3.4 billion and an adjusted EBITDA of € 933.4 million. The consolidated income statement for 2006 has not been impacted by the acquisition of ALTANA Pharma AG as closing of the acquisition took place 29 December 2006.

2006 was a successful year with strong performance in particular from Pantoloc® (pantoprazole) for gastrointestinal diseases and CalciChew® (calcium and vitamin D) for osteoporosis. The osteoporosis portfolio was supplemented by Preotact®, the first full-length parathyroid hormone (PTH) for osteoporosis. Preotact® received European market authorisation in April 2006 and was launched in key markets across Europe.

Matrifen® (fentanyl patch) for severe chronic opioid-sensitive pain, received Mutual Recognition in May 2006. It was launched in Germany, Denmark and Sweden and will be launched throughout the remaining parts of Europe during 2007-2008.

Outlook for 2007

2007 will be a year where main focus will be on the integration of ALTANA Pharma AG with a continuous focus on our customers and markets. In 2007, we expect growth in our net turnover and adjusted EBITDA of approx. 5-10%, excluding restructuring and integration costs.

CEO statement

Håkan Björklund, Nycomed CEO said:

“Nycomed saw strong growth in 2006 with good performance from key products and across the Group’s regions. This gives us an excellent foundation for the new and challenging future ahead of us after the acquisition of ALTANA Pharma AG.

Building a new company with new strategic goals does not happen overnight, and we must maintain customer focus while integrating the companies. We are facing significant challenges in realising the synergies of the combined group, in particular with the expiration of our Pantoprazole patent in 2009-2010. We need to implement our R&D strategy and quickly tap into the considerable potential and expertise we have within the company.

We are dedicated to keeping up the strong momentum created in the two companies. We will be working hard to realise our strategy of continued growth and to make a real difference to patients and health care professionals with safe, efficient and easy manageable products.”

Financial background

Adjusted EBITDA and EBITDA are key figures used in order to have a more comprehensive analysis of our operating performance and of our ability to service our debt.

Adjusted EBITDA means net earnings before net financial items, income taxes, depreciation of tangible assets and amortization of intangible assets, adjusted for certain unusual or non-recurring items.

Financial calendar

Nycomed expects to announce its results for the first quarter of 2007 on Wednesday 23 May 2007.

About Nycomed

Nycomed provides products for hospitals, specialists and general practitioners, as well as over-the-counter medicines in selected markets.

The company is active within a range of therapeutic areas, including cardiology, gastroenterology, osteoporosis, respiratory, pain and tissue management. New products are sourced both from own research and from external partners. Operating throughout Europe and in fast-growing markets such as Latin America, Russia/CIS and the Asia-Pacific region Nycomed has a presence in about 50 markets worldwide.

Privately owned, the combined group had non-audited estimated annual sales of approximately € 3.4 billion and an EBITDA of € 933.4 million (2006 results). In connection with the acquisition of ALTANA Pharma AG, effective 1 January 2007, Nycomed is relocating its group headquarters from Roskilde (Denmark) to Zurich (Switzerland).

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For further information

Christoffer Jensen, VP Communications
Phone +45 46 77 11 12
Mobile +45 22 43 69 44

Susanne Hof, Head of External Communications
Phone +49 7531 84 30 59
Mobile +49 151 55 00 26 65


For further information

General phone:

+41 44 555 15 10
Beatrix Benz,

phone: +41 44 555 1508
Tobias Cottmann,

phone: +41 44 555 1501

Christian B. Seidelin,

phone: +41 44 555 11 04

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