HÃ¥kan BjÃ¶rklund, CEO Nycomed, commented on the company's results: "Nycomed demonstrated its resilience in 2009 with net turnover reaching €3,228 million. Key Products and most emerging markets grew strongly despite the economic downturn. While the loss of exclusivity for pantoprazole in May showed the anticipated impact on sales, the post-expiry performance was robust. Our key development project, roflumilast (Daxas), has been progressing well. It was submitted to European and U.S. regulatory authorities in mid-2009 and we are working closely with our partner Forest Laboratories on the US commercialisation of the product. In September, full results from four phase III trials 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.
Instanyl has been introduced to European markets since September for the treatment of breakthrough pain in cancer and we are seeing faster market penetration than for recent competitor launches.
We are also continuing to strengthen our position in emerging markets. With the acquisition of a portfolio of 20 branded generic products, Nycomed strengthened its position in the faster growing markets of Central and Eastern Europe. In Russia, we will build a new production facility by 2014.
For 2010, our focus will be on pantoprazole, roflumilast and the emerging markets. We expect further decreases in sales of pantoprazole, our best-selling product, which we continue to support. The launch of roflumilast will be crucial for the long-term, as will be our growth in emerging markets and we dedicate our efforts accordingly. We are continuously looking into managing our costs. Nycomed is in a good shape to take advantage of the opportunities lying ahead of us."
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 fourth 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 €3.2 billion in 2009 and an adjusted EBITDA of €1.1 billion.
For more information visit www.nycomed.com.