Bioglan sees net leap 85%, sales up 66%

UK-based specialty pharmaceutical company Bioglan reported turnover ofL100.6 million ($144.8 million) for its fiscal year ended January 31,with product sales rising 43% to L58.5 million. Product out-licensing royalties were L20.3 million, compared to L7.4 million the previous year, while drug delivery revenues increased 80.2% to L21.7 million. Net profits for the period leapt 85% to L9.1 million but, on the negative side, the firm's net debt increased more than three-fold to L73.7 million.

Bioglan noted in a press statement that its US operations now represent the largest segment of its business, with product sales of $30 million, helped by the progress of Solaraze (hyaluronic acid and diclofenac), licensed from SkyePharma. Growth of its German subsidiary was fuelled by a strong dermatology portfolio, and a range of 12 dermatological products acquired from Hexal (Marketletter January 15), as well as a portfolio of steroids from Novartis.

In Scandinavia, Bioglan AB achieved 17% sales growth, and in France, the 100%-owned Laboratoires CS enlarged its portfolio with the acquisition of Vibramycin (doxycycline), an oral treatment for acne, from Pfizer. Also successful in France was Tridesonit (desonide), a steroid for inflammatory skin conditions acquired from Bayer in 1998, which saw sales rise 11% to L1 million.