Page 6 - norgine-annual-report-2016

Norgine in 2016: continuing

Key financial figures for 2016 to execute Vision 2020

New partnerships in 2016

Total revenue and income* Building partnerships is key to expanding Norgine’s portfolio, to return to double digit growth and ultimately achieve its Vision

2020 to be the ‘go to’ European specialist pharma partner of choice.
Year 2016 €368 million What sets Norgine apart from other companies is its flexible and agile approach to partnering and collaboration. Norgine is able

to integrate new products quickly for the benefit of healthcare systems and patients in Europe, Australia and New Zealand.
Year 2015 €320 million
Norgine has a number of ways of working with partners, whether it’s through in-licensing or acquisition, out-licensing our
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Year 2014 €298 million products such as MOVICOL , MOVIPREP and PLENVU to companies in territories where it does not have its own sales
force, joint venture, a profit share or as an investor or conventional licensee.
*Total revenue and income consist of product sales, partnering With Norgine’s established infrastructure and extensive history of working in Europe (and Australia and New Zealand), Norgine
milestones and other income. continued to make significant headway in 2016.

Valeant Pharmaceuticals International, Inc.
Product sales (NYSE: VRX and TSX: VRX)

In August 2016, Norgine entered into a licensing agreement with Valeant Pharmaceuticals International, Inc. under
Down 2% from 2015 due to currency and disposals which Valeant has obtained the rights to develop and commercialise PLENVU Powder for Oral Solution in the US and
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Underlying growth up by 6.8%* driven by XIFAXAN Product sales revenue was impacted by
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the decline in UK Sterling post the EU Canada. PLENVU is a novel, low-volume (1L) polyethylene glycol-based bowel preparation for cleansing of the colon in
Year 2016 €295 million referendum, divestment of Norgine’s preparation of colonoscopy.
South African business in 2015, Apharm s.r.l.
Year 2015 €300 million Norgine’s operations in the Middle East In April 2016, Norgine expanded its agreement with Apharm s.r.l. to distribute ZIVEREL in Austria, Belgium, Denmark,
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and North Africa region in 2016 as well
Finland, Germany, Ireland, Luxembourg, the Netherlands, Norway, Sweden, Switzerland and the UK. In June 2015, Norgine
Year 2014 €284 million *On a like-for-like basis at as the disposal of rights to a number of and Apharm entered into an agreement to distribute ZIVEREL in Spain, Australia and New Zealand.
constant exchange rates,
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underlying revenue growth
was 6.8%. non-core products.
Olympus Corporation Of The Americas
In May 2016, Norgine and its subsidiary Arc Medical entered into a distribution agreement for the US and Canada with
Partnering milestones and other income Olympus Corporation Of The Americas for ENDOCUFF VISION .
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ENDOCUFF VISION is sold in Europe, Australia and New Zealand through Norgine’s infrastructure.
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Norgine received net payments of €25.1 million (2015: €4.1 million) related to the achievement of
milestones by Norgine’s partners. Norgine sold products for €19.5 million (2015: €7.1 million). SpePharm Europe B.V.
2016 Results In December 2016, Norgine acquired the full ownership of SpePharm Europe B.V. and as of this date this joint venture ceased
and SpePharm Europe B.V. became a subsidiary of Norgine. Through the acquisition of SpePharm, Norgine has acquired the
full rights of DANTRIUM , MUGARD and LYMPHOSEEK .
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Norgine has a very strong financial position having repaid €23 million of borrowing in 2016. It has increased
its net cash position from the prior year by €45 million from €35 million, to €80 million as at December 2016. Divestment of non-core assets
Shareholders’ equity has increased from the prior year by €66 million to €195 million as at December 2016.
In 2016, Norgine divested activities to reinforce its strategic focus on Europe in order to deliver profitable growth and create a
dynamic and sustainable business in the long term.
2015 2016
€million €million Growth In June 2016, Norgine divested its Middle East and North Africa (MENA) operations and product rights to Acino.
Total net product revenue 300 295 -2%
Norgine divested the rights of CAMCOLIT and NORGALAX for the Netherlands, Belgium and Luxembourg during 2016.
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Milestone & other income 20 73 265%
Both products were divested in 2015 for the UK and Ireland.
Total 320 368
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