Biovitrum AB: Interim Financial Report For The Period 1 January To 31 March, 2010
Published: Apr 27, 2010
STOCKHOLM, SWEDEN--(Marketwire - April 27, 2010) -
Key products demonstrate continued strong growth. Revenues and EBITA amounted to 488 MSEK and 55 MSEK, respectively.
* Pro forma product revenues increased by 10% in Constant Exchange Rate (CER).
* Sales of Kineret(®) increased by 12% in CER and by 1% in SEK
* Sales of Orfadin(®) increased by 21% in CER and by 9% in SEK
* Total ReFacto(®) revenues were 74 MSEK in CER lower than previous year due to annual phasing of manufacturing shipments to Pfizer and a lower royalty rate
* Product revenues in Europe increased by 8% in CER corresponding to -1% in SEK
* Product revenues in North America increased by 13% in CER corresponding to -3% in SEK
* Biovitrum AB (publ) completed the acquisition of Swedish Orphan International Holding AB on January 14
* Previously agreed future sales milestones for Kineret(®) and Kepivance(®) were pre-paid to Amgen
* The rFVIIIFc and rFIXFc collaboration agreement with Biogen Idec was restructured
* The first patients were included in the rFIXFc registrational study, B- LONG
* This report contains an outlook for 2010 and long term objectives
Events after the period
* Cyanokit® market territory was expanded on April 1
* Willfact® was launched in Germany on April 8
* An exclusive European distribution agreement with Pharming was signed for Rhucin® on April 15
* The decision to advance Kiobrina® into a phase III development was announced on April 21
Comments from CEO
Martin Nicklasson, CEO, said: It is pleasing to note that the first interim report for the new company, Swedish Orphan Biovitrum, demonstrates a strong underlying product performance. The integration of the two companies is working well. New product launches are under way, the development pipe line is making further progress and new business development deals have been signed, which create future growth opportunities.
Conference call details
The presentation of the Interim Report, 1 January to 31 March 2010, will be presented by Swedish Orphan Biovitrum´s CEO Martin Nicklasson and CFO Göran Arvidson. The presentation will be held in English and webcasted.
Time: Tuesday, April 27, 2010 at 2 p.m. (CET)
Venue: IVA (Kungliga Ingenjörsvetenskaps Akademin), Grev Turegatan 16, Stockholm.
Telephone dial in: UK: +44 (0) 207 509 5139, Sweden: +46 (0)8 505 202 70, US: +1 718 354 1226
The presentation material will be published on our web site after the meeting as will the archived web cast, please go to: www.biovitrum.com
For further information, please contact: Erik Kinnman, Investor Relations phone +46 73 422 15 40
About Swedish Orphan Biovitrum
On January 14, 2010, Biovitrum AB (publ) completed the acquisition of Swedish Orphan International Holding AB and created Swedish Orphan Biovitrum - a leading company focused on treatment of rare diseases.
Swedish Orphan Biovitrum is a Swedish based specialty pharmaceutical company with an international market presence. The company is focused on providing and developing orphan and niche specialist pharmaceuticals to patients with high medical needs. The portfolio consists of about 60 marketed products and an emerging late stage clinical development pipe-line within rare diseases. Swedish Orphan Biovitrum has pro-forma revenues 2009e of about 2 BSEK and approximately 500 employees. The head office is located in Sweden and the share (STO: BVT) is listed on NASDAQ OMX Stockholm.
For more information please visit www.biovitrum.com
Swedish Orphan Biovitrum may be required to disclose the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was provided for public release on April 27, 2010 at 8:30 a.m. CET.
Complete Interim Report January 1 - March 31: http://hugin.info/134557/R/1408486/361234.pdf