Leo Pharma expresses confidence in future growth

Leo Pharma has stated that it is on track to experience corporate growth in the coming years despite its 2009 results falling below 2008 levels.

The company experienced a pre-tax loss of 18 million kroner (2.2 million pounds) in the last year as a result of an extensive programme of investments and acquisitions.

It explained that this falls into line with the company’s long-term strategies, with purchases of new subsidiaries such as the biotech company Peplin designed to contribute to its objective of becoming “the number one pharmaceutical company worldwide”.

The firm also pointed to the 2009 launch of new products in its key focus areas of dermatology and critical care, including Xamiol, Daivobet and Innohep, as being in line with its growth initiatives.

Gitte Aabo, president and chief executive officer of Leo Pharma, stated that this strategy “set the direction for the substantial investments we made throughout the year and which will continue in 2010”.

Earlier this month, the firm entered into collaboration with research company Intomics in order to improve its ability to analyse biological data.