Belgium's Solvay Reports Lower Pharma Sales

Belgian chemicals producer Solvay has reported a 4% rise in group sales to EUR7.88mn (US$10.34bn) for 2004, with net income rising 26% to EUR541mn (US$709.56mn). However, at EUR1.75bn, the company's pharmaceuticals turnover was 5% lower year-on-year.

The company claimed that the year has marked a transition period in its pharmaceuticals business, and noted that it currently has 30 new molecules under investigation. Further, the company signed several agreements with leading drug companies including Wyeth and Bristol-Myers Squibb in 2004.

The company has also had a busy year in mergers and acquisitions, buying Mexico's Italmex and Sweden's Neopharma, giving it the right to a promising treatment for late-stage Parkinson's disease, Duodopa (levodopa/kardidopa). The company, which has also reorganised its drugs operations into a single unit, Solvay Pharmaceuticals SARL, also stated that it may seek further partnerships and acquisitions in 2005.