Nycomed reports double-digit growth across emerging markets in second quarter 2011

17.08.2011
  • Strong performance in emerging markets helped offset challenging conditions in mature European markets; emerging markets accounted for 46.3% of Q2 turnover
  • Total net turnover steady at €786.2 million (+2.4% in local currencies), with emerging markets growing 23.5% in local currencies
  • Adjusted Q2 EBITDA down 4.5% at €188.6 million (+2.2% in local currencies); H1 EBITDA €501.0 million, up 16.4%, including one-time Forest Laboratories payment (+16.5% in local currencies)
  • Partnerships progressing: Transfer of marketing authorisation approvals in Asia-Pacific for Bonviva® (Ibandronate) from Roche completed and Turkish portfolio strengthened; commercialization agreement with Allmirall for roflumilast in Spain; Collaboration signed with Orion on Easyhaler® combination products
  • NDA submitted in US for ciclesonide nasal aerosol HFA formulation by US partner Sunovion; Instanyl® single-dose spray approved in Europe
  • Agreement with Takeda to acquire Nycomed announced in May 2011, subject to antitrust clearance

 

The financial results reported in this press release are related to Nycomed S.C.A. SICAR and comprise all of the Nycomed Group’s operations. The full interim report is available at Investors

Nycomed today announced results for the second quarter of 2011, achieving double digit growth across emerging markets. Good progress was made in Key Products, particularly in the respiratory area. Following U.S. approval of Daliresp™ for the treatment of COPD earlier this year, Nycomed's partner Forest Laboratories introduced the product to the market and is preparing a full launch in the third quarter. In May, Nycomed agreed to be acquired by Takeda, subject to antitrust clearance, creating a truly global pharmaceutical business equipped to meet the needs of patients, doctors and healthcare providers.


Net turnover in the second quarter was stable compared with the second quarter 2010, up 2.4% in local currencies to €786.2 million.
Strong growth was achieved in Asia-Pacific, Africa and Middle East (+80.8% in Q2, +68.8% in H1 in local currencies), Russia/CIS (+10.9% in Q2, +20.5% in H1 in local currencies) and Latin America (+5.5% in Q2, +10.0% in H1 in local currencies) continued to grow, offsetting the challenging conditions in the US and Western Europe.


Commenting on the company’s second quarter performance, Nycomed CEO Håkan Björklund said: “We again saw the success of our increasing focus on emerging markets in the second quarter, with strong performances in areas such as Asia, Middle East and Latin America helping to offset anticipated declines in some of the more mature markets of Western Europe and the US.


We look forward to closing the agreement with Takeda for the acquisition of Nycomed announced in May and to creating a truly global pharmaceutical business equipped to meet the needs of patients, doctors and healthcare providers. Nycomed ends the first half of 2011 in excellent shape and looks forward to an even brighter future.”

Key figures

  Q2 2011
(€m)
Q2 2010
(€m)
Change    H1 2011
(€m)
H1 2010
(€m)
Change   
Net turnover 786.2 786.5 0.0%
2.4%(1)
1,710.0 1,562.9 9.4%
8.9%(1)
Gross profit
Margin
549.9
69.9%
552.1
70.2%
-0.4% 1,221.4
71.4%
1,100.2
70.4%
11.0%
Operating profit (EBIT) 45.8 16.1 184.5% 213.3 57.6 270.3%
EBITDA
Margin
175.8
22.4%
188.5
24.0%
-6.7% 469.8
27.5%
401.0
25.7%
17.2%
Adjusted EBITDA
 
Margin
188.6

24.0%
197.4

25.1%
4.5%
2.2%(1)
501.0

29.3%
430.4

27.5%
16.4%
16.5%(1)

(1) In local currencies

About Nycomed

Nycomed is a privately owned global pharmaceutical company with a diversified portfolio focused on branded medicines in gastroenterology, respiratory and inflammatory diseases, pain, osteoporosis and tissue management. A range of OTC products completes the portfolio.


Its R&D is structured around collaborations. In-licensing and expanding in emerging markets are cornerstones of the company's growth strategy.
Nycomed employs 12,500 associates worldwide, and its products are sold in more than 100 countries. It has strong platforms in Europe and in fast-growing markets such as Russia/CIS, Latin America, Asia and the Middle East. In the US and Japan its products are available through best in class partners.


Headquartered in Zurich, Switzerland, the company generated total sales of € 3.2 billion in 2010 and an adjusted EBITDA of € 851 million.

 

For further information

Media:
General phone:
+41 44 555 15 10
Tobias Cottmann, phone:
+41 44 555 15 01

Investors:
Christian B. Seidelin, phone:
+41 44 555 11 04

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