Page 6 - Norgine Annual Report 2017

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
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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
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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
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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

1%

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