In 2007 Nycomed increased adjusted EBITDA by 31.0% compared to last year to a total of € 1,222.2 million. The strong performance was accompanied in the fourth quarter by major advancements in the US out-licensing efforts that materialised in early 2008. The full year results benefited from increased sales, especially from high-margin products as well as a significant reduction in costs. Net turnover increased by € 103.0 million or 3.0% to € 3.497.4 million in 2007, up from € 3,394.4 million during 2006. Net turnover during the fourth quarter 2007 decreased by € 20.3 million from € 883.5 million in 2006 to € 863.2 million during the same period in 2007, a 2.5% decline.
"The past year was Nycomedâs most successful year so far. Financially we have delivered a premium performance, and the integration of Altana Pharma is well ahead of plan. We are building a best-in-class, mid-sized healthcare company that is ready for the future and well positioned to take advantage of growth opportunities", said HÃ¥kan Björklund, Nycomed's Chief Executive Officer.
"In the fourth quarter of 2007 we finalised a couple of agreements that are proof to our growth strategy - among others, the acquisition of Bradley Pharmaceuticals was successfully closed in early 2008, as were agreements with Sepracor and Baxter International in the United States. Our markets in Latin America and Russia/CIS as well as in Southern and Eastern Europe continued to grow at very satisfactory rates. And our substantial increase in adjusted EBITDA demonstrates our ability to focus on high-efficiency performance", he continued.
About Nycomed
Nycomed is a privately owned 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 in a range of therapeutic areas. Its key products are aimed at gastroenterology, pain management, osteoporosis, respiratory diseases and tissue management. New products are sourced both from our own research and from business 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. The combined group employs over 11,500 people. In 2007, it had annual sales of € 3.5 billion and an adjusted EBITDA of € 1.2 billion. For more information visit www.nycomed.com.