Chiesi announces 2006 financial results

Chiesi has reported its financial results for the 2006 fiscal year, with the firm recording a five per cent increase in sales over 2005 to 593.2 million euros (404.3 million pounds).

In 2006, Chiesi saw an “important” ten per cent increase in the sale of corporate products, with strong revenues for Atimos, Curosurf and manidipine as well as reports of the first sales of combination asthma treatment Foster.

The company announced strong internal growth amid compulsory price cuts in eastern European countries, Italy, Germany and Spain. It added that sales in the UK, Italy and France were within the relevant market dynamic range.

During the year, Chiesi saw a net income of 29.1 million euros, a rise of 15.9 per cent on the previous year, while EBITDA surpassed 91 million euros.

“Research and development expenses reached 76.9 million euros, up 8.3 per cent on previous year and with a 13 per cent incidence on sales,” the company reports.

It added that this investment enabled the company to focus on respiratory efforts and its other core therapeutic areas in order to improve the firm’s product pipeline.

In March 2007, Chiesi Farmaceutici announced that its Modulate technology platform had been recognised with the Frost & Sullivan Technology Award in the European respiratory diseases division for 2006.