- Strong financial performance in H1 2017
- Three medium-term strategic growth drivers on track
- Milestone 2020 strategic plan initiated
- Two strategic in-licensing deals and one strategic out-licensing deal concluded
- Net sales and EBITDA guidance for 2017 raised and positive outlook confirmed
IN H1 2017, VIFOR PHARMA RECORDED A STRONG FINANCIAL PERFORMANCE DRIVEN BY ITS THREE MEDIUM-TERM STRATEGIC GROWTH DRIVERS. THE COMPANY ALSO SUCCESSFULLY INITIATED ITS MILESTONE 2020 STRATEGIC PLAN AND CONCLUDED THREE NEW STRATEGIC LICENSING DEALS. AS A RESULT OF THE STRONG H1 2017 FINANCIAL PERFORMANCE THE COMPANY IS RAISING ITS NET SALES AND EBITDA GUIDANCE FOR 2017 AND CONFIRMING THE POSITIVE OUTLOOK.
Financial performance: Strong growth trend continues
- Significant revenue growth with net sales of CHF 625.7 million, up 13.6%
- EBITDA excluding launch and ramp-up costs of Veltassa® increased to CHF 252.3 million, up 20.2%
- Strong growth reported in each of the three medium-term strategic growth drivers - Ferinject®, Vifor Fresenius Medical Care Renal Pharma (VFMCRP) and Veltassa®
- Strong balance sheet and liquidity position with cash net of debt of CHF 140.5 million
Three medium-term strategic growth drivers on track
- On 1 January 2017, Daiichi Sankyo substantially increased its commercial effort to promote Injectafer® in the United States
- Post balance sheet on 19 July 2017, the European Commission approved Veltassa® in the 28 EU countries for the treatment of hyperkalaemia in adults
Milestone 2020 strategic plan initiated
- Galenica Santé successfully divested via an initial public offering onto the SIX Swiss Exchange
- Company name changed from Galenica Group to Vifor Pharma Group
- Etienne Jornod re-elected as Executive Chairman with remuneration exclusively in shares blocked until 2020
- Stefan Schulze appointed President of the Executive Committee and COO and management team strengthened
- Investment of approximately CHF 850 million planned in projects to develop and launch new products over the next three years
Three strategic licensing deals concluded
- Territory rights to avacopan (CCX168) expanded to everywhere outside the US and China
- Agreement with Akebia Therapeutics to sell vadadustat to Fresenius Medical Care dialysis clinics in the US
- Exclusive rights to develop and commercialise avacopan (CCX168) in Japan granted to Kissei Pharmaceutical Co., Ltd.
Net sales and EBITDA guidance raised
- Net sales expected to grow by more than 10%
- EBITDA excluding the costs to support the launch and ramp-up of Veltassa® expected to increase by more than 10%
- All other elements of financial guidance as of 14 March 2017 and positive outlook confirmed
VIFOR PHARMA GROUP FINANCIAL PERFORMANCE
| in million CHF | H1 2017 | H1 2016 | Change in % | |
| Net sales | 625.7 | 550.6 | 13.6 | |
| EBITDA excluding launch and ramp-up of Veltassa® | 252.3 | 209.9 | 20.2 | |
| Cash net of debt | 140.5 | -1,832.11) | n/a | |
| Net profit after minorities | 1,093.7 | 158.9 | 588.3 | |
| Core earnings per share | 0.61 | 2.0 | -69.7 |
For further details, please see the Vifor Pharma Group 2017 Half-year Report (PDF only) at www.viforpharma.com.
1) As of year-end 2016
FURTHER INFORMATION
| Media Relations Beatrix Benz Head of Global Communications & Public Affairs Tel.: +41 58 851 80 16 E-mail: media@viforpharma.com | Investor Relations Julien Vignot Head of Investor Relations Tel.: +41 58 851 66 90 E-mail: investors@viforpharma.com |
Vifor Pharma Group, formerly Galenica Group, is a global specialty pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is the partner of choice for specialty pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core business activities and consists of the following companies: Vifor Pharma; Vifor Fresenius Medical Care Renal Pharma, a joint company with Fresenius Medical Care; Relypsa; and OM Pharma. Vifor Pharma Group is headquartered in Switzerland, and listed on the Swiss Stock Exchange (SIX Swiss Exchange, VIFN, ISIN: CH0364749348). For more information, please visit www.viforpharma.com.
