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Massive deficit in Danish pharma-company due to write-down and divestiture

Increased costs, write-down of the value of subsidiaries and divestiture of a Swedish company has resulted in the doubling of a three-digit million-kroner deficit in a Danish pharmaceutical company.

Foto: Novozymes/PR

An increase in turnover is the only bright spot of the yearly financial report from Novozymes Biopharma. Increased costs, loss from divestiture and a significant write-down have extremely adverse effects on the yearly result, which ends in a massive deficit for 2011.

The increased turnover comes due to a rise in income from royalties and finishes at DKK 141.5 million for 2011 against 63.4 million the year before.

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