Altana benefits show through at Nycomed

Privately-owned Danish group Nycomed says that the integration of Altana Pharma, bought from the German parent in December 2006 (Marketletters passim) is now starting to show results through synergies and enhanced business opportunities. It is set to see more growth via its recently-announced $346.0 million bid for US generics firm Bradley Pharmaceuticals (Marketletter November 5).

Reporting financial results for the first nine months of 2007, Nycomed says that sales increased 4.9% to 2.63 billion euros ($3.86 billion), although for the third quarter alone, net turnover rose just 2.5% to 860.2 million euros. Nine-month adjusted earnings before interest, tax, depreciation and amortization leapt 29.4% to 940.8 million. The company says its performance was helped by strong sales of its antiulcerant pantoprazole in the USA and repatriation of the product in certain markets, while at the same time spending levels were reduced. For the full year, Nycomed is forecasting low single-digit sales growth, but an increase of around 30% in EBITDA.

"In the third quarter we are clearly seeing the advantages of our new and bigger organization after the integration. Not only have we maintained a good performance, but we were able to gain from the combined forces," commneted Hakan Bjorklund, Nycomed's chief executive. "Our new products, for example Preotact (parathyroid hormone [rDNA origin] for injection), show impressive growth and the introduction of products to our expanded geographic reach is making progress. With teduglutide, our second in-licensing agreement this year [acquired from NPS Pharma; Marketletter October 8), to be added to our pipeline, we have demonstrated the strength of Nycomed's new R&D model to attract partners. And the agreement to acquire Bradley Pharmaceuticals provides us with an excellent opportunity to grow our specialty business in the USA," he continued.