Leo Pharma reports sales growth for 2011

Leo Pharma has published its financial report for 2011, a year which saw the company achieve growth in line with its overall expansion strategy.

The group's gross sales total for the year came to 8.02 billion Danish kroner (902.29 million pounds), up by nine percent compared to 2010, which was achieved despite difficult economic conditions.

Strategic product sales growth was measured at 16 percent for the year and 21 percent for strategic psoriasis products, while efforts have been made to enter new markets such as Australia, Italy and South Korea while maintaining growth in the US.

These results represent encouraging progress towards Leo Pharma's target of achieving double-digit annual sales increases, as outlined in its 2009 growth strategy.

Gitte Aabo, president and chief executive officer of Leo Pharma, said: "Leo Pharma delivered solid results for 2011, built on continued market expansion and the extension of our product portfolio and global workforce."

This comes after the company appointed Anders Spohr as its new executive vice-president for global product supply earlier this month.