Biovitrum's Interim Report January - March 2007
Strong first quarter
- New clinical trials and positive cash flow
January - March
•Net revenues for the first quarter decreased by 12 percent to SEK 352.9 M
(403.3)
•Net profit for the first quarter amounted to SEK 44.1 M (86.3) and earnings per
share before dilution to SEK 1.0 (1.7)
•Cash flow from operations amounted to SEK 48.1 M (72.8), cash and cash
equivalents and short-term investments as of March 31 amounted to SEK 898.5 M
(1,613.9)
•The 11β-HSD1 project for the treatment of diabetes, which is out-licensed to
Amgen, progressed well and is estimated to enter phase II during the second half
of 2007
•Phase IIa study initiated within the collaboration with Synphora for the
treatment of psoriasis
•Phase I study initiated within the anti-RhD co-development project with
Symphogen for the treatment of two blood disorders
After the end of the period
•Martin Nicklasson was appointed in April as Biovitrum's new President and CEO
effective May 14, 2007
“It gives me great pleasure to be able to say in my final interim report that we
have a highly positive trend in our broad clinical portfolio and that our
financial position continues to be strong,” says Mats Pettersson, CEO of
Biovitrum.
“I am convinced that Martin Nicklasson, with his exceptionally broad background,
is the right person to lead the future development of Biovitrum.”
To present the report, Biovitrum's CEO Mats Pettersson and CFO Göran Arvidson
will hold a Press and Analyst meeting in Stockholm today Monday, April 23 at
10:30 (CET) at IVA, Grev Turegatan 16, conference room "Wenström" and a
Conference Call at 14:30 CET). Dial-in: +46 8 566 363 29.
Presentation material will be available at www.biovitrum.com under
investorrelations/presentations
For more information, please contact:
Biovitrum AB (publ)
Mats Pettersson, CEO, tel.:+46 8 697 23 27
Göran Arvidson, CFO, tel.: +46 8 697 23 68
Anna Karin Källén, VP Communications, tel.: +46 8 697 20 85
Anders Martin-Löf, Director Investor relations, tel.: +46 8 697 37 07
About Biovitrum
Biovitrum is one of the largest biopharma companies in Europe. With operations
in Sweden and in the UK Biovitrum conducts research and develops pharmaceuticals
for unmet medical needs both for common diseases and conditions that affect
smaller patient populations. Biovitrum has a broad and balanced R&D portfolio
with several projects in clinical and preclinical phases for the treatment of
obesity, diabetes, inflammation and eye and blood diseases as well as a number
of well defined niche indications. Biovitrum develops and produces protein-based
drugs on a contractual basis and markets a range of specialist pharmaceuticals
primarily in the Nordic countries. Biovitrum has revenues of approximately SEK
1.2 billion and 550 employees. Biovitrum is listed on the Stockholm Stock
Exchange since September 15, 2006.
For more information see www.biovitrum.com
