ALTANA: On track to a new record with unabated growth
Altana continues to remain on course to success in the third quarter. The excellent first half year business development of ALTANA AG also continued in the third quarter of 2001. Compared to the previous year, profit before taxes of the first nine months remarkably rose by 50% to 350 million Euro. Within the same period the return on sales shows a clear upward trend from 16.7 to 20.3%. Considering these results, ALTANA ranks amongst the most profitable and the fastest growing companies in Europe.
Compared to the first nine months last year, consolidated sales rose by 23% to 1,726 million Euro. Adjusted for acquisitions and exchange rate effects, the operating growth amounts to roughly 19%. The share of the consolidated sales realized outside Germany achieved 79%.
Pharmaceuticals: Profitability with high innovation potential The dynamic growth of the ALTANA Pharmaceuticals division, Byk Gulden (Constance), remains unbroken. Sales of the past nine months amounting to 1,177 million Euro clearly exceed the last year’s level by 30%. As a result profit before taxes showed a disproportionate increase of 96% to 284 million Euro and the operating return measured in terms of EBITDA recorded 27.5% (previous year 20.5%).
Posting a 33% increase the strategic core business area Therapeutics again represents the growth driver. After three quarters sales of prescription drugs amount to 941 million Euro, covering 80% of divisional sales.
Whilst domestic sales within the nine month period grew by 12% (previous year -3%), sales outside Germany improved by 36% (1-9 2000: 32%). The US market on which ALTANA exceeded all expectations recording a growth of 110% remains the focal point of international business. Amounting to 898 million Euro the share of international business in total sales of the Pharmaceuticals division accounts for 76% (previous year 73%).
Pantoprazole tops forecasts: Sales up by 144% The main pillar of sales is the proton pump inhibitor (PPI) Pantoprazole. As of September 2001, worldwide market sales of this innovative gastrointestinal drug rose by 144% from 407 million Euro to 994 million Euro. Since mid-June of this year Pantoprazole is the only PPI on the American market offering both the oral and the intravenous form. It also possesses the licence for the long-term treatment of the so called reflux disease (GERD). In October the intravenous licence was supplemented by the indication Zollinger Ellison Syndrome, an indication for a small group of patients with an extremely difficult treatment. The different licences contribute to secure Pan-toprazole’s long-term chances on the US market.
Sales forecast raised again Double-digit sales growth in many countries, enabled Pantoprazole to increase its market share on most significant pharmaceuticals markets. Due to the great demand, ALTANA raises its 2001 international market sales forecast to now more than 1.2 billion Euro. As a result Pantoprazole currently represents one of the best-selling drugs of a German manufacturer on the global market place.
R & D: Important future projects With Ciclesonide and Roflumilast ALTANA possesses a solid research pipeline. Both respiratory drugs are to be introduced on the market in different steps until 2005. Additionally, there are further pipeline projects, as for instance the PDE III/IV-Inhibitor Pumafentrine (Phase II), or a very promising substance (APA) for the treatment of acute and chronic gastric diseases (Phase I) in gastroenterology. By means of biotechnological research alliances and the set-up of an own genomics research center in the US, ALTANA intends to further expand its R&D capacities.
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