Company Profile
Patheon is the leading publicly listed provider of drug development and manufacturing services to global pharmaceutical, biotechnology and specialty pharmaceutical companies. The company’s strategic vision is to become the industry’s best provider of pharmaceutical development and manufacturing services.
Services
Patheon’s global manufacturing network includes approximately 4,400 employees providing services at 11 manufacturing facilities and eight development centers across North America and Europe.
The company enables its customers to bring drug candidates from pre-clinical stages through to clinical trials, the NDA approval process and, if approved, commercial manufacturing. Patheon’s development and commercial manufacturing capabilities cover primarily prescription (Rx) products in solid, semi-solid and liquid dosage forms, as well as specialized capabilities in high-potency, cephalosporin, controlled/sustained release and sterile manufacturing, including aseptic filling and lyophilization.
Market Opportunity
The pharmaceutical industry is growing and, compared with other industries, is in the early stages of adopting manufacturing and development outsourcing strategies. Many global pharma, biotech and specialty pharma companies are relying on the services of contract product development and commercial manufacturing companies to help them meet growing demand and bring new drugs to market more quickly.
Patheon is the established leader in this relatively new segment of the pharmaceutical industry. With a wide range of manufacturing capabilities and significant scale in the world’s two largest pharmaceutical markets – the United States and Europe – the company is uniquely positioned to serve as a strategic global manufacturing partner to the industry’s leading innovators.
Patheon serves approximately 300 clients, including all of the world’s 20 largest pharmaceutical companies, (such as Sanofi-Aventis, Novartis, Roche, and Merck), 10 of the 20 largest biotech companies (such as Amgen and Gilead Sciences) and nine of the 20 largest specialty pharmaceutical companies (such as Watson Pharmaceuticals and Medicis).
Financial Highlights
|
|
(US$ millions, except per share amounts) |
2009 |
2008(5) |
2007(5) |
|
| |
|
|
Revenues(1) |
655.1 |
717.3 |
634.1 |
|
| |
|
|
Adjusted EBITDA (2) |
74.0 |
82.6 |
80.9 |
|
| |
|
|
Income (loss) before discontinued operations |
1.0 |
20.3(4) |
(36.4) |
|
| |
|
|
EPS(3) (basic and diluted) U.S. cents from continuing operations |
|
(10.0) |
20.7(4) |
(39.2) |
|
|
| |
|
|
Shareholders’ equity |
271.3 |
237.2 |
189.8 |
|
| |
|
|
|
|
|
|
(1) Reflects results for continuing operations.
(2) Income (loss) from continuing operations before repositioning expenses, interest expense, foreign exchange losses reclassified from other comprehensive income, refinancing expenses, gains and losses on sale of fixed assets, gain on extinguishment of debt, income taxes, asset impairment charges, depreciation and amortization.
(3) Income (loss) per share.
(4) Including a gain on the settlement of the debt component of convertible preferred shares of $34.9 million, or 39 cents per share
(5) Conforms to current period presentation | |
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Stock Price (as of and for the year ended October 31, 2009)
(Stock prices in Canadian dollars)
|
Stock Symbol |
(TSX: PTI) |
|
Share Price |
C$2.57 |
|
Shares Outstanding |
129,167,926 |
|
Market Capitalization |
C$331,961,570 |
|
Average Weekly Trading Volume |
1,462,030 |
|
52-week High |
C$3.38 |
|
52-week Low |
C$0.81 |