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ADVANZ PHARMA announces key leadership appointments as it gears up for growth. Dr. Steffen Wagner is appointed as the new CEO, effective early 2022, succeeding Graeme Duncan, who will become a special advisor. Andreas Stickler, previously with Merck Healthcare, will assume the CFO role in January 2022, taking over from Adeel Ahmad. These strategic changes follow a successful 2021, where the company strengthened its financial performance and launched new products. These appointments aim to support ADVANZ PHARMA's vision of becoming the partner of choice for complex specialty medicines in Europe.
ADVANZ PHARMA Corp. reported first-quarter 2021 revenue of $136 million, marking a 5% increase from 2020, but faced a net loss of $15 million. Adjusted EBITDA decreased by 12% to $56 million. Cash flow from operations was $13 million, with cash and cash equivalents totaling $135 million. The company acquired global rights to Cyclophosphamide, enhancing its portfolio and submitted three medicines for approval, including Mytolac, a generic formulation of Lanreotide, which received European approval.
ADVANZ PHARMA Corp. reported 2020 revenue of $526 million, a 3% increase from 2019, with fourth quarter revenue reaching $135 million, up 11% year-over-year. The company posted a net loss of $75 million for 2020, but a net income of $2.4 million in Q4 2020. Adjusted EBITDA for the year was $233 million. The North America segment faced a 7% revenue decline due to increased competition, while the International segment saw a 7% revenue rise, bolstered by acquisitions. Cash and equivalents at year-end were $160 million, down from $261 million in 2019.
