Nycomed reports satisfactory 3rd-quarter 2009 performance, despite generic erosion of pantoprazole sales

Privately-owned Swiss prescription and over-the-counter drugmaker Nycomed reports continued satisfactory performance in the third quarter 2009, with total net turnover increasing 0.9% (3.2% in local currencies) to 820.0 million euros ($1.22 billion).
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ales of its gastrointestinal drug pantoprazole were resilient after losing patent protection in May in 12 European countries, falling just 15.7% to 272.8 million euros. Moreover, the company noted, OTC variants of the drug were performing well in Europe. On a regional basis, group sales in most emerging markets exhibited strong growth. Adjusted EBITDA decreased 3.1% (1.5% in local currencies) to 285.3 million euros.

The firm said its pipeline portfolio had advanced significantly. The chronic obstructive pulmonary disease drug Daxas (roflumilast) was submitted to the US Food and Drug Administration, and an agreement with Forest Laboratories on US commercialization of the drug was signed. Positive Phase III trial results were published in The Lancet. If it lives up to expectations, Daxas could indeed be huge - COPD is the fifth biggest killer disease in the world, the company has said previously

The drug was acquired by Nycomed in 2006, along with its purchase of the pharmaceutical business of Germany's Altana. Assuming that the drug gains regulatory approvals, it would compete with the likes of drug majors GlaxoSmithKline's Advair (fluticasone propionate/salmeterol), with sales last year of around $6.0 billion, and Spiriva (tiotropium), marketed by Pfizer and Boehringer Ingelheim.

Additionally, Nycomed noted that the nasal spray Instanyl (fentanyl) was approved in Europe in July for the treatment of breakthrough pain in cancer patients, and has since been launched in its first markets - Denmark and Germany.

Commenting on the results, chief executive Hakan Bjorklund said: "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 commercializing the product in the USA. 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, he noted, '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."