In its first financial release since acquiring the contrast operations of Mallinckrodt, contrast agent manufacturer Guerbet reported double-digit growth in revenue for its 2015 fiscal year.
For the year, Guerbet reported revenue of 460.8 million euros ($520 million), up 12.7% before currency changes, compared with sales of 409 million euros ($461.5 million) in its 2014 fiscal year. After currency adjustments, the company saw a 10% revenue increase.
Revenue from the Mallinckrodt business was included in Guerbet's annual results starting on December 1, contributing revenue for the month of 27.9 million euros ($31.5 million). The infusion arrested what had been a 15% decline in Guerbet sales over the past two years.
On a regional basis for 2015, sales before currency adjustments for the year grew 10.1% in Europe and 18.9% in the other markets. On a product basis, sales for the year for its Dotarem MRI agent grew 21.7% and the product now represents 44.4% of Guerbet's sales.
For the fourth quarter, Guerbet recorded revenue of 117.1 million euros ($132.1 million), up 10% before currency changes, compared with revenue of 106.4 million euros ($120.1 million) a year ago. Sales growth in Europe and other markets was nearly identical, at about 10% before currency adjustment. Sales of its Dotarem and Lipiodol products grew 9.6% at constant exchange rates.
Guerbet said that in 2016 it will modify its sales structure and reposition its product offering, as well as work to integrate employees from the Mallinckrodt Contrast Media and Delivery Systems business.