Nycomed extends geographic reach to Venezuela

08.02.2008

 Own presence in Venezuela to further enhance strong Latin American presence

-Nycomed strategy to participate in high-growth markets and offer licensing opportunities to partners

Nycomed is about to establish its own marketing and sales organisation in Venezuela. With this, the company will operate from an own subsidiary in all four leading Latin American pharmaceutical markets, Mexico, Brazil, Venezuela and Argentina. This is part of Nycomed’s strategy to strengthen its presence in high-growth markets and offer licensing opportunities to partners.

Venezuela is the third largest pharmaceutical market in Latin America, with a total value of US-$ 3 billion and annual growth of 29 percent. Nycomed’s products Pantoprazole for the treatment of acid-related gastrointestinal disorders and Ciclesonide for the treatment of asthma are successfully promoted in the South American country by partners.

Nycomed Venezuela S.R.L. will be legally established in Caracas in February 2008 and will be headed by newly appointed country manager Luis Jose Marsicano. The company plans to launch first products in spring 2009, focusing on gastrointestinal therapeutics in the short-term while enlarging the OTC and specialty products portfolio in the mid-term.

“Moving into Venezuela is a logical step for Nycomed”, said Philippe de Lavenne, Nycomed`s Senior Vice President for Latin America, South Africa and Canada. “We can build on our strong position in Latin America, participate in the outstanding growth of this market and become an even more attractive partner for regional licensing opportunities”, he explained.

About Nycomed

Nycomed is a pharmaceutical company that provides medicines 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 annual sales of approximately € 3.4 billion and an EBITDA of € 933.4 million (2006 results).

 

For further information

Media:
General phone:

+41 44 555 15 10
Beatrix Benz,

phone: +41 44 555 1508
Tobias Cottmann,

phone: +41 44 555 1501

Investors:
Christian B. Seidelin,

phone: +41 44 555 11 04

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