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Zeltia Group (18494051.MA) Revenues up 53.3%


2/26/2010 6:57:02 AM

MADRID, Spain, Feb. 25 /PRNewswire/ -- Consolidated revenues for Zeltia (ZEL.MC) amounted to 123.4 million euro (an estimated 166.29 million USD) in 2009, up 17.2% with respect to 2008. Net income improved by 36.3%. Biopharmaceutical revenues expanded 53.3% due primarily to sales of Yondelis(R), which totaled 44.12 million euro (approximately 59.45 million USD) in 2009. In November, the European Commission authorized the marketing of Yondelis for ovarian cancer, after which sales commenced in some European countries.

Genomica increased total revenues by 37% to 7.3 million euro (approximately 9.83 million USD) in 2009. Sales of the AT platform diagnosis kits increased by 50%. Despite the effects of the adverse economic situation on consumer spending, revenues in the Consumer Chemicals division totaled 71.2 million euro (approximately 95.94 million USD), up 0.7% with respect to 2008. EBITDA improved for the second year in a row. Losses were reduced by 48.3% to -16.1 million euro (approximately -21.69 million USD).

The bottom line continues with the improvement that commenced in 2008: losses declined by 36.3% to -25.8 million euro (approximately -34.76 million USD) in 2009 (vs. -40.6 million euro (approximately -54.71 million USD) in 2008). After deducting short-term financial debt, the group had 30.5 million euro (approximately 41.1 million USD) in cash and credit. Average monthly cash burn rate declined 34% with respect to 2008 to an average of 2 million euro (approximately 2.69 million USD) per month. The group expects this figure to continue to decline in 2010 due to sales of Yondelis for ovarian cancer (recently approved in Europe).

About Zeltia:

Zeltia S.A. is a world-leading biopharmaceutical company specializing in the development of marine-based drugs for use in oncology and central nervous system illnesses. Grupo Zeltia consists mainly of the following companies: PharmaMar, the world-leading biotechnology company in advancing cancer care through the discovery and development of innovative marine-derived medicines; Noscira, a biotech firm focused on discovering and developing new drugs against Alzheimer's disease and other neurodegenerative central nervous system diseases; Genomica, Spain's leading molecular diagnostics company; Sylentis, dedicated to researching therapeutic applications of gene silencing (RNAi); and a chemical division comprising Zelnova and Xylazel, two highly profitable companies that are leaders in their respective market segments.

This press release is also available in the Current events section on Zeltia's Web site: www.zeltia.com

*All original figures are in euros; however, dollar figures are estimated using the exchange rate: 1.34759.


Read at BioSpace.com


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