Insulin pens help Gerresheimer to record sales
Gerresheimer has posted a bumper set of results in 2010, thanks to continuing strong demand for its glass and plastic packaging from the pharmaceutical industry.
Revenues at the German group rose nearly 6% to reach 1.02 billion euros () in 2010, with growth driven by buoyant demand for insulin pens – a result of the steady increase in the incidence of diabetes across the globe – as well as inhalers, vials, ampoules and prefillable syringes.
The prefillable syringe market is growing fast at around 10-15% a year at the moment, and Gerresheimer is planning to open a new production line in 2012 to boost its manufacturing capacity for them by around 120 million units a year.
The company also benefitted from a revival in its life science research products business, encompassing test tubes, pipettes and the like, as well as cosmetics packaging.
“In 2010 we achieved our targets and even exceeded some of them”, said chief executive Uwe Rohrhoff.
“In the coming years we will further expand our position as a full service provider in the important growth markets such as diabetes and generics, for example”.
Gerresheimer has been reaping the benefits of a drive towards diversifying its business away from traditional glassware and into more profitable plastics, a division which has steadily grown in terms of its contribution to total group sales. For example, the company recently introduced a new Clearject COP range of plastic prefilled syringes with barrier systems designed for use with sensitive pharmaceutical products.
It has also benefitted from a concerted push into emerging markets, such as Asia, with fast-growing pharmaceutical sectors. In 2010 it opened an office in India, as well as strengthening its presence in China and Russia.
“The emerging countries play an increasing role. We want to grow our revenues substantially in these markets, and to double them by 2013 to 200 million euros”, said Rohrhoff.
As well as a healthy revenue increase, Gerresheimer posted a 10% rise in operating profits to 210 million euros in 2010, and this has allowed it to reduce its debt burden to a record low of 311 million euros.
In 2011. Gerresheimer is expecting revenues to rise 3-4%, and says it will invest around 80 million euros in the business.
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