Strong performance in the first half of 2018 reflects the continued growth of Norgine's leading brands as well as product revenues acquired through the acquisition of Merus Labs International Inc. ("Merus")
Merus integration complete
Norgine generated sales of €196 million in the first half of 2018 (H1 2018), 28% higher than in H1 2017. This growth was driven by the established products added by the acquisition of Merus (+ €32 million sales) and growth of Norgine's key promoted products - particularly MOVICOL® and XIFAXAN® (+ €11million vs. H1 2017).
Norgine continues to drive performance of its products in Europe, Australia and New Zealand where it is investing for future growth.
MOVICOL® - the market leading treatment for constipation grew strongly year-on-year with sales of €79.0 million in H1 2018, up 6% from H1 2017
MOVIPREP® - Norgine's 2litre bowel preparation for colonoscopy - achieved sales of €29.8 million in H1 2018, up 5% from H1 2017
PLENVU® - the first 1litre bowel preparation for colonoscopy received FDA approval in May 2018 and was launched in the US in September 2018. It is available through Norgine's infrastructure in Europe, Australia and New Zealand.
XIFAXAN®550mg - for the treatment of hepatic encephalopathy - saw sales of €30 million in H1 2018, up 21% from H1 2017
LYMPHOSEEK® - a novel radiopharmaceutical used in sentinel lymph node biopsy (SLNB), in adult patients with breast cancer, melanoma, or localised squamous cell carcinoma of the oral cavity. LYMPHOSEEK® was launched in additional markets across Europe. It is available in Denmark, the Netherlands, the UK, Germany and Spain.
Significant key business developments
Following the acquisition of Merus in July 2017, the integration is now complete
Norgine continues its growth strategy and moved to a new office in Wettenberg, Germany. Germany is Norgine's largest market.
Peter Stein, CEO at Norgine said: "Our performance during the first half of 2018 demonstrates that our strategy is working. We are continuing to bring transformative products to market for the benefit of patients. The established products acquired through Merus and our promoted products, in particular MOVICOL® and XIFAXAN®, are key growth drivers for us. With the addition of PLENVU® to our product portfolio, we anticipate further growth in the remainder of 2018 and into 2019. Our success is a reflection of the hard work of our "One Norgine" team which has built a strong platform through which we can attract new opportunities for the benefit of patients."