HÃ¥kan BjÃ¶rklund, CEO, commented on the company's results: "Nycomed achieved continued satisfactory performance in the third quarter. Roflumilast was filed for approval in the US and with Forest Laboratories we found the best partner for commercialising the product in the United States. Furthermore, the positive phase III trial results were published in the medical journal The Lancet and presented at the European Respiratory Society meeting in Vienna. The results reinforce our confidence in the drug's strong commercial prospects.
In addition, Instanyl was approved in Europe and launched in its first markets. Initial uptake has been very positive. Nycomed also strengthened its position in the faster growing markets of Central and Eastern Europe with the acquisition of a portfolio of 20 branded generic products from Sanofi-Aventis and Zentiva. This demonstrates our commitment to identifying and in-licensing promising products and our focus on growth in fast growing markets.
Despite a negative currency impact, we are confident of meeting our targets for 2009."
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. EBITDA means net income adjusted for net financial terms, income taxes, depreciation of tangible assets and amortisation of intangible assets. Adjusted EBITDA is EBITDA adjusted for unusual or non-recurring items not related to the future and ongoing business. For the third quarter 2009 the difference between EBITDA and adjusted EBITDA mainly comprises integration, projects and restructuring costs.
Nycomed is a privately owned global pharmaceutical company with a differentiated portfolio focused on branded medicines in gastroenterology, respiratory and inflammatory diseases, pain, osteoporosis and tissue management. An extensive range of OTC products completes the portfolio.
Its R&D is structured around partnerships and in-licensing is a cornerstone of the company's growth strategy.
Nycomed employs 12,000 associates worldwide, and its products are available in more than 100 countries. It has strong platforms in Europe and in fast-growing markets such as Russia/CIS and Latin America. While the US and Japan are commercialised through best-in-class partners, Nycomed plans to further strengthen its own position in key Asian markets.
Headquartered in Zurich, Switzerland, the company generated total sales of €3.4 billion in 2008 and an adjusted EBITDA of €1.2 billion.
For more information visit www.nycomed.com.