Solvay Pharmaceuticals sees record sales in 2009

Solvay Pharmaceuticals experienced record-breaking levels of success during the 2009 fiscal year, according to the company’s annual financial breakdown.

The healthcare division of the chemical company earned a total of 2.8 billion euros (2.4 billion pounds) from sales during the 12-month period, with performance driven by strong demand for brands such as Androgel, Creon and Influvac.

It also achieved an operating result of 649 million euros, which represents a 27 per cent increase on the figure recorded the previous year.

This was achieved partly through cost reductions made by Solvay, as well as being due to a discontinuation of depreciation owing the sale of the business unit to Abbott.

This deal was finalised by the two companies earlier this week, with the transaction being valued at 4.5 billion euros (3.9 billion pounds).

Solvay stated that it is looking to refocus its business towards chemicals sector investments, while Abbott expressed confidence that the purchase will extend the reach of its business activities.