Chiesi's full year 2006 profit climbs 16%

Italy's Chiesi Farmaceutici says that, for the full year 2006 its net income was 29.1 million euros ($39.4 million), up 15.9% on the figure it posted for 2005. The firm added that its earnings before interest, taxes, depreciation and amortisation, which rose 2.0% to 91.2 million euros, confirmed the profitability level that it achieved in 2005.

Chiesi reported a 5% increase to 593.2 million euros in its revenues for the full year, adding that this was ahead of the growth achieved by the top five European drug markets. The firm explained that the sales expansion was due to internal growth, and despite the impact of compulsory price cuts in Italy, Germany, Spain and eastern Europe.

Key products included: the respiratory distress syndrome treatment Curosurf (poractant alpha); the antihypertensive manidipine; and Atimos (formoterol) for asthma. In addition, the firm said that the new combination asthma drug Foster (formoterol and beclomethasone dipropionate), which was launched in Germany late last year (Marketletter September 4, 2006), had made an important contribution.