Page 6 - Norgine Annual Report 2017
P. 6

2017









                                          Financials







                                Norgine achieved total consolidated net product revenues for the
                                year of €345 million, an increase of 17% from 2016 (2016: €295                                     MOVICOL  maintained its leading position in Europe, generating more than €157.4 million, a 1% decline in sales
                                                                                                                                            ®
                                million). The revenue increase was due to both the acquisition of                                  (2016: €159.0 million). Although MOVICOL  was launched 20 years ago it continues to be the market leader in Europe in
                                                                                                                                                                      ®
                                Merus Labs International Inc. and organic growth from Norgine’s                                    its class. Norgine remains focused on providing a product that is trusted by patients and prescribers. Decline due to the
                                key products as set out below:                                                                     disposal of product rights of non-European markets in 2015.






                                                       2017 €M          2016 €M          GROWTH
                                                                                                                                   MOVIPREP  (2 litre colonoscopy bowel preparation) generated sales in 2017 of €57.3 million, 7% above 2016 (€53.5 million).
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                   Total net product revenue             345              295              17%
                                                                                                                                   MOVIPREP  is currently available in Europe and Australia through Norgine’s own infrastructure and in the US, India, Japan,
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                   Milestone and other Income             9                73              -88%                                    Russia and Canada via partners.
                                                         354              368





                                During the year, Norgine received net payments, in line with
                                                                                                                                   Norgine’s XIFAXAN  (rifaximin) for the treatment of hepatic encephalopathy continued to be the key growth driver with
                                                                                                                                                   ®
                                expectations, of €9 million (2016: €73 million) related to the
                                                                                                                                   sales of €51.2 million in 2017, an increase of 24% (2016: €41.3 million) over 2016.
                                achievement of milestones by Norgine’s partners and other income.
                                2016 was an exceptional year with respect to milestones achieved
                                and the sale of non-core product licences. Royalty income for the year                                  17%                                      7%                 24%
                                was €5.5 million (2016: €6.4 million) a decrease of 14% as a result of
                                the disposal of non-core licences in the prior year.                                                   NORGINE            MOVICOL®           MOVIPREP®            XIFAXAN®

                                                                                                                                      €345M             €157.4M              €57.3M              €51.2M




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