Nycomed US hasn't even been born yet, and it's already promising big growth. Set to be spun off into an independent company once its Swiss parent Nycomed is bought out by Takeda Pharmaceutical, Nycomed US has tapped an executive team with ambitions for deals of their own.
Brian Markison, who ran King Pharmaceutical until it was bought out by Pfizer, will take the helm at Nycomed US, backed up by several former King colleagues. As CEO, Markison plans an aggressive acquisition campaign to bulk up far beyond the unit's current $445 million in annual revenues. In fact, Markison told Dow Jones that he'd be surprised if Nycomed US isn't twice its current size within three years.
Why the need for speed? Nycomed US will still be owned primarily by private equity firms, including Nordic Capital, Coller Capital and Avista Capital Partners (Markison and his team are also investing in the new company). Private equity investors like to build up and sell out. Avista actually contacted Markison and Co. about running Nycomed US specifically because of their M&A experience, Dow Jones says. And the new CEO says he'll be "mindful of the exit for shareholders," but that the "timeline is generous."
Nycomed US's shopping list could run the gamut from small, single-product companies to much bigger targets, public or private, Markison told the news service. The company is focused on dermatology, with one division concentrating on generics and another turning out branded products for dermatitis, eczema, psoriasis and rosacea. "This is an exciting time for the company because we have the opportunity to grow aggressively and forge our future as an independent entity," Markison said in a statement.
- get the release from Nycomed US
- read the Dow Jones story