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Nycomed's Q3 results

The focus on emerging markets and speciality products is offsetting loss of exclusivity for pantoprazole, the company reports

The decision to focus on emerging markets and speciality products is offsetting loss of exclusivity for pantoprazole for Swiss pharma company Nycomed, which announced its third quarter results today (November 10).

Net turnover was up 8.7 per cent in the third quarter (+1.5 per cent in local currencies) excluding a one-time payment in Q3/2009. In euros, total net turnover was down by 0.7 per cent to Û814.6m (Q3/2009: Û820m).

Daxas (roflumilast) has recently been launched in the first EU markets, with further launches scheduled over coming months. In addition, Nycomed's US partner Forest Laboratories has submitted a response to the US Food and Drug Administration (FDA) addressing topics raised in the complete response letter regarding the New Drug Application for this drug in the US. The FDA's response is expected in the first quarter of 2011.

Demonstrating its commitment to faster expansion in China, Nycomed recently acquired the majority stake in Guangdong Techpool Bio-Pharma.

The company also noted that the rate of decline in sales of pantoprazole in Europe slowed. Further, Nycomed experienced strong sales in emerging markets, with especially solid performances in Russia/CIS and Latin America, namely Brazil. Protonix sales in the US have decreased sharply and now account for the predominant share of the decline in pantoprazole sales.

Håkan Björklund, CEO of Nycomed, commented: "We are very satisfied with Nycomed's sales performance in the third quarter. It demonstrates that our strategy of focusing on emerging markets and speciality products is delivering results. The acquisition of the majority stake in Guangdong Techpool Bio-Pharma underlines Nycomed's Asian growth strategy and provides us with access to a leading, high-quality manufacturer of innovative products and creates an enhanced commercialisation base for Nycomed products in China.

"In September, we opened our newly expanded manufacturing facility for active pharmaceutical ingredients (APIs) in Mumbai, India, which we operate in a joint venture with Zydus Cadila. This is a significant step forward to getting high quality APIs in Nycomed's branded generic portfolio produced at competitive costs," he continued.

Further, he cautioned that 2010 revenues would be adversely affected by pantoprazole's loss of exclusivity and the price cutting measures, which had been announced by authorities in several markets.

10th November 2010

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