146 0 Kommentare Vifor Pharma Group Reports Continued Growth in H1 2020

Regulatory News:

Vifor Pharma Group reported growth in H1 2020, despite challenges to patient access conditions caused by the COVID-19 pandemic. The financial guidance has been updated to reflect COVID-19 impact on a full-year basis. Restrictions caused by the COVID-19 pandemic have lowered revenues of Ferinject/ Injectafer and Veltassa. However, growth was sustained in the nephrology area, mostly driven by the dialysis business.

Commenting on the first half results, Stefan Schulze, CEO of Vifor Pharma Group, said:
“Despite unprecedented challenges due to COVID-19, we are pleased to report overall sustained revenue growth and a strong EBITDA growth in H1 2020. The temporary impact to patient access caused by global COVID-19 restrictions has reduced revenues of Ferinject/ Injectafer and Veltassa. We maintained growth in the nephrology area, driven by the dialysis business, further underlining the success of our therapeutic diversification in recent years. Targeted measures were implemented across the organisation in H1 to keep our employees safe, ensure business continuity and product supply to patients in need and to protect our profitability. We are proud of the efforts of our employees and partners, which have helped minimise the consequences of the pandemic for patients who depend on our products.”

FINANCIAL PERFORMANCE: SUSTAINED OVERALL GROWTH

Net sales of CHF 922.5 million, up 1.0% (or 4.3% in local currency)
Other income increased due to milestone payments from partnering activities
EBITDA of CHF 305.1 million, up 19.8%
Net profit before minorities of CHF 106.7 million negatively impacted by a CHF 56.2 million impairment of the intangible asset CCX140
Strong balance sheet with equity ratio of 75.0%
Net debt position of CHF 232.9 million

FERINJECT/ INJECTAFER: HOSPITAL DEMAND IMPACTED BY COVID-19

Net sales of CHF 261.9 million, a decrease of 4.2%, or 0.1% in local currency
Sales in Q2 declined as COVID-19 restrictions in many markets prevented patients from receiving infusions, we expect return to growth in H2 subject to continued normalisation of the COVID-19 situation
Strategic partnership in China signed with Fresenius Kabi in February 2020 to create a joint company focusing on i.v. iron products; NDA submission for Ferinject in China was accepted by the National Medical Products Administration in June 2020
Reimbursement and launch expected in Japan in H2 2020