| Solvay Pharmaceuticals reports another record year | Posted on 15/02/2007 in Pharmaceutical Company Financials Solvay has recorded what it claims was "another record year" on the back of strong growth in operating performance.
Overall, the Solvay group recorded a ten per cent growth in revenues, with sales for the 2006 financial year valued at a record 9.4 billion euros (6.3 billion pounds). Operating results grew 12 per cent to reach 1.1 billion euros before interest and tax.
Solvay Pharmaceuticals, which was said to have seen "significant improvement", announced sales of 2.6 million euros - up 15 per cent on 2005. Meanwhile, operating results grew 49 per cent, with a margin that "improved greatly", rising to 17 per cent from 13 per cent in the previous period.
"This confirms the significant improvement of Solvay Pharmaceuticals," the group said in a statement. It highlighted "the successful integration" of Fournier Pharmaceuticals, which was acquired in July 2005.
"In addition to the significant growth of cardiometabolic products, with 413 million euros in revenues for the blockbuster drug fenofibrate, the sales of the primary products of Solvay Pharmaceuticals were up significantly," the firm commented.
The acquisition of Fournier, a fenofibrates business, was intended to add a unique product line to Solvay's cardiology business and research pipeline. The acquired group specialises in dyslipidemia - the control of cholesterol and triglycerides.
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