| Leo Pharma reports 'good year' in 2007 | Posted on 07/04/2008 in Pharmaceutical Company Financials Leo Pharma has said that 2007 was a good year for the company, which achieved an increase in turnover it believed to be satisfactory and ahead of previous estimates.
In total, the company achieved a pre-tax result of 2,901 million Danish kroner (305.8 million pounds), a 115 million kroner decrease on the figure for 2006.
Leo Pharma claims that it must be noted that 2007 was marked by increased investments and fewer non-recurring receipts, with the drop of three per cent much smaller than the "heavy decrease" anticipated.
Gitte Aabo, president and chief executive officer of the company, said: "We have achieved a satisfactory result, which is better than expected.
"On the American market, we and our partner Warner Chilcott saw considerable progress concerning [sales]".
She added that the sales of Tacloex in the US doubled in the past year to around 800 million Danish kroner.
Chairman of the board and former chief executive officer Ernst Lunding said that the result must be considered as satisfactory regarding the difficult terms on the market and declining dollar.
Ms Aabo took over from Mr Lunding as chief executive officer of Leo Pharma at the start of this year as part of a planned succession.Other news stories from 07/04/2008
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