Nycomed announces ‘strong’ second-quarter results

Nycomed has announced its financial results for the second quarter of the 2008 fiscal year.

The company reported robust sales in important home markets and the continued development of its core products, while the in-licensing of veltuzumab has added significant strength to its product pipeline.

During the first six months of 2008, net turnover at the company was 1,714.5 million euros (1,353.4 billion pounds), a fall of 3.4 per cent over the same period in 2007.

Adjusted EBITDA rose by 4.9 per cent to 653.7 million, with results improved as a result of the cost decreasing effects of restructuring efforts and successful integration.

Hakan Bjorklund, chief executive officer of Nycomed, said: “We are pleased to report that the second quarter of 2008 has been very satisfactory for Nycomed.”

He added the company’s western European key markets continued to trade above its expectations, while the recent addition of veltuzumab to its product pipeline offers an excellent strategic fit to its other autoimmune and inflammatory disease programmes.

On announcement this licensing agreement with Immunomedics last month, Mr Bjorkland hailed the move as a significant step for the company in the extending of its network with top biopharmaceutical firms.