Leo Pharma

Last updated
LEO Pharma A/S
Company type Aktieselskab
Industry Pharmaceutical industry
Founded1908;116 years ago (1908)
FounderAugust Kongsted and Anton Antons
Headquarters Ballerup, Copenhagen, Denmark
Area served
Worldwide
Key people
Christophe Bourdon (CEO)
Products Prescription drugs for dermatology, bone remodeling thrombosis and coagulation
RevenueIncrease2.svg DKK 7.973 billion (2014) [1]
Increase2.svg DDK 1.5 billion (2014)
Total assets Decrease2.svg DDK 31.627 billion (2014) [1]
Number of employees
Decrease2.svg 4,712 (2014) [1]
Website Home Page
Footnotes /references
Wholly owned by a foundation (nonprofit)

LEO Pharma A/S is a multinational Danish pharmaceutical company, founded in 1908, with a presence in about 100 countries. Its headquarters are in Ballerup, near Copenhagen [2] The company is 100% integrated into a private foundation owned by the LEO Foundation. [3] LEO Pharma develops and markets products for dermatology, bone remodeling thrombosis and coagulation. [4] In 1945, it was the first producer of penicillin outside the US and UK.

Contents

History

Formation & the 20th Century

In 1908, pharmacists August Kongsted and Anton Antons bought the LEO Pharmacy in Copenhagen, Denmark. With the purchase, they established 'Københavns Løveapoteks kemiske Fabrik', today known as LEO Pharma. LEO Pharma celebrated its centennial in 2008. [5] Flags bearing the LEO logo were flying in every country where LEO products are available, more than a hundred flags in total. Today, LEO Pharma has an ever growing pipeline with over 4,800 specialists focusing on dermatology and thrombosis.

21st Century & onwards

In 2015, the company announced it would acquire Astellas Pharmas dermatology business for $725 million. [7]

In 2018, the company acquired Bayer's dermatology unit for an undisclosed amount. [8]

In April 2022, the company appointed Christophe Bourdon as its new CEO. [9] Prior to this, he served as the CEO of Orphazyme A/S.

In January 2023, the company started extensive layoffs [10] (of about 300 of its current employees, or ~5% of the workforce) as a part of major restructuring and reorganization in anticipation of a possibly planned IPO. [11] Because of slimming down of the company's R&D program, new early-stage drug candidates will have to be sourced externally. [12]

In August 2023, it was announced LEO Pharma had entered into a definitive agreement to acquire key assets of the Basking Ridge-headquartered biopharma company, Timber Pharmaceuticals, for $36 million. [13] This transaction included TMB-001, a topical isotretinoin ointment currently under development for the treatment of moderate to severe subtypes of Congenital Ichthyosis (CI), which has no treatment options. [14]

In September 2023, the company announced the implementation of a new capital structure with over 4 billion Danish kroner (approximately $587 million) allocated for business development and mergers and acquisitions. [15] The company is focused on acquiring assets aimed at treating rare dermatological diseases with unmet medical needs.

In February 2024, LEO Pharma announced a net loss of 3.6 billion Danish kroner (equivalent to $528 million) for 2023 due to non-recurring project impairments, tax asset adjustments, and rising interest expenses. [16] It also reported that it had cut its operating costs by 14% and increased its revenues by 7% in 2023. [17]

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References

  1. 1 2 3 "Archived copy" (PDF). Archived from the original (PDF) on 2015-11-17. Retrieved 2015-11-14.{{cite web}}: CS1 maint: archived copy as title (link)
  2. Leo Pharma A/S published list of products Archived 2013-12-02 at the Wayback Machine
  3. "About us - LEO Pharma". leo-pharma.com. Archived from the original on 2015-02-26. Retrieved 2013-11-06.
  4. Highbeam news clipping service, UK
  5. "LEO Pharma - BrandSearch" (PDF).
  6. GB 863474,Lund, Frantz&Godtfredsen, Wagn Ole,"Benzothiadiazine derivatives and their preparation",published 1961-03-22
  7. "LEO Pharma Buys Astellas' Dermatology Business for $725M". GEN.
  8. "Leo Pharma Acquires Bayer's Dermatology Unit". PharmaPhorum.
  9. leopharma. "LEO Pharma appoints Christophe Bourdon as new CEO". www.leo-pharma.com. Retrieved 2024-05-03.
  10. "Extensive layoffs at Leo Pharma – 300 jobs lost". MedWatch.
  11. "Orphazyme CEO departs for Leo Pharma as both companies face major restructurings". EndpointsNews.
  12. "Leo Pharma to source new drug candidates externally following layoffs". MedWatch.
  13. "LEO Pharma to acquire Timber Pharmaceuticals in deal worth up to $36m". PMLive. 2023-08-23. Retrieved 2023-08-24.
  14. leopharma. "LEO Pharma finalizes acquisition of key assets from Timber Pharmaceuticals". www.leo-pharma.com. Retrieved 2024-05-03.
  15. leopharma. "LEO Pharma announces annual results 2023". www.leo-pharma.com. Retrieved 2024-07-15.
  16. leopharma. "LEO Pharma announces annual results 2023". www.leo-pharma.com. Retrieved 2024-07-15.
  17. leopharma. "Our performance and results". www.leo-pharma.com. Retrieved 2024-07-15.