SCHWARZ PHARMA AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]
31.10.2008
Interim report according to Article 37x of the WpHG
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31 October 20081 October 2008
SCHSCHWARZ PHARMA presents Nine Months ReportWARZ PHARMA presents Nine
Months Report
The sales trend of the SCHWARZ PHARMA group in the first 9 months of 2008
was in line with our expectations and improved year-on-year1.
The best performing products were Prostavasin(R) (alprostadil), including
Edex(R) (alprostadil), followed by Atmadisc(R) (fluticasone/salmeterol) and
Neupro(R) (rotigotine transdermal patch) as additional key sales drivers.
All
three products recorded year-on-year sales growth.
The operating result of the SCHWARZ PHARMA group in the first 9 months was
consistent with our expectations.
The group's financial result improved considerably year-on-year. Within the
scope of integration into the UCB group, SCHWARZ PHARMA granted an
interest-bearing vendor loan, generating interest income in the first 9
months which was distinctly higher than that recorded in the previous year.
The net result was also in line with our expectations.
August saw the start of the UCB group's SHAPE program, focusing UCB's
biopharma activities on its core areas CNS (Central Nervous System) and
immunology disorders. The program includes reductions of the company's
global workforce. In October, a compensation agreement and socially
equitable arrangements for employees affected by the global restructuring
measures were agreed with the works councils in Germany.
In September, marketing approval for Vimpat(R) (lacosamide), a drug for
treating epilepsy in ad-on therapy, was received for the European market.
Vimpat(R) was successfully launched in Germany in the same month.
As part of the process of integrating SCHWARZ PHARMA AG into the UCB
group, 13 affiliated companies ceased to belong to the company's scope of
consolidation as per end of fiscal year 2007. All details on the prior year
period only relate to continued business operations.
A cold chain for Neupro(R) (rotigotine transdermal patch) was successfully
implemented throughout Europe in September 2008, guaranteeing a sufficient
supply to current Parkinson's patients. SCHWARZ PHARMA expects to be in a
position to make Neupro(R) available to newly diagnosed patients in the
first
half of 2009. The German market launch of Neupro(R) for treating Restless
Legs Syndrome (RLS) is also planned for the first six months of 2009.
In July 2008, SCHWARZ PHARMA AG met the demand of the Federal Financial
Supervisory Authority (BaFin) to publish the reporting error the latter had
determined in fiscal year 2005. The correction will be carried out within
the scope of the annual consolidated financial statements for 2008. SCHWARZ
PHARMA has meanwhile withdrawn the objection lodged against the opinion of
the BaFin and the error it determined.
Out
Outlook for 2008 unchangedlook for 2008 unchanged
SCHWARZ PHARMA expects revenues to stay level at around EUR350 million in
fiscal year 2008, with a negative net result in the higher double-digit
million ranges. This outlook takes into account the impact of the inability
to deliver Neupro(R) in the U.S., announced in March 2008, and possible
measures for restoring delivery capability as well as start-up expenses for
producing the drug fesoterodine. This outlook does not include earnings
from the divestment of products or partnerships. Likewise not included are
expenses possibly arising from following instructions given under the terms
of the domination and profit transfer agreement.
SCHWARZ PHARMA AG (seated in Monheim, Germany) is a member of the UCB
group, Brussels/Belgium (www.ucb-group.com). UCB is listed on the Euronext
exchange in Brussels and holds around 89% of all SCHWARZ PHARMA shares.
UCB (Brussels, Belgium) (www.ucb-group.com/) is a global leader in the
biopharmaceutical industry dedicated to the research, development and
commercialization of innovative medicines with focus on the fields of
central nervous system and immunology. Employing around 12,000 people in
over 40 countries, UCB achieved revenue of 3.6 billion euro in 2007. UCB is
listed on Euronext Brussels.
Contact: Sylvia Heitzer,Tel: +49 2173 48 1238; Antje Witte, Tel.: +32 2 559
9414
Internet: www.schwarzpharma.com
This press release contains assumptions, expectations, and forecasts on
future sector trends, on future legal and commercial developments, and on
the future development of the company. These assumptions, expectations, and
forecasts are no guarantee for future performance and are subject to change
at any time. Consequently, future reports and the factual circumstances of
the company may deviate materially from the outlook presented by the above.
The company assumes no responsibility for updating such assumptions,
expectations, and forecasts on future sector trends, on future legal and
commercial developments, and on the future development of the company.
DGAP 31.10.2008
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Language: English
Issuer: SCHWARZ PHARMA AG
Alfred-Nobel-Str. 10
40789 Monheim
Deutschland
Internet: www.schwarzpharma.com
End of News DGAP News-Service
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DGAP-IRE: SCHWARZ PHARMA AG: SCHWARZ PHARMA presents Nine Months Report
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