Altana still on lookout for pharmaceutical partnership

Altana’s chief executive officer and president, Dr Nikolaus Schweickart, has said that the German pharmaceutical and chemicals company is still searching for a suitable pharmaceutical partner. He told investors at the company’s annual general meeting that they were actively engaged in the search and added: “The process is under way. We are involved in some talks.”

Dr Schweickart revealed an increased dividend of 1.10 euros (75 pence) per share would be paid to shareholders from profits accrued by the company – a 16 per cent increase on last year’s dividend. He explained: “2005 was the best business year in the history of Altana AG and the tenth record year in succession.”

He added that the company needed to continue the restructuring of the group to meet future challenges, although he did not give specific details. He said: “We strive, as announced, to implement a reorientation of the pharmaceuticals business in the course of this year and to establish the chemicals business as an independent, stock market-listed company.”

Altana say it expects the group to grow strongly and that sales increase by 20 per cent during 2006. In 2005 Dr Scheickart said that the company needed to “open” itself to a strategic partner to strengthen its product pipeline further, as the patent for its main sales driver, the anti-gastroesophageal reflux disease drug Pantoprazole, expires in 2009.

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