Biovitrum Interim Report January 1 - June 30, 2007.Strong Second Quarter, Positive Project Development Continues STOCKHOLM, Sweden -- Regulatory News: Biovitrum (STO:BVT BVT Bouvet Island (ISO Country code) BVT Brevet BVT Bournville Village Trust (UK) BVT Build Verification Test (Software testing process) ) June * Net revenues increased with 33 percent, and amounted to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 404.2 M (304.8). Net profit increased and was SEK 59.8 M (7.1). Earnings per share were SEK 1.31 (0.15). The increase is mainly due to the strong development of the ReFacto[R] manufacturing revenues * Cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses improved the second quarter, and was SEK -16.4 M (-47.2) * The A2A A2A Access to Archives (UK) A2A Application to Application A2A Air-To-Air (weapon) A2A Administration-to-Administration A2A Any to Any project, which is based on an entirely new principle for the treatment of neuropathic pain, entered phase II * Supplementary clinical studies have started on Exinalda[TM] for the treatment of patients with fat malabsorption malabsorption /mal·ab·sorp·tion/ (mal?ab-sorp´shun) impaired intestinal absorption of nutrients. mal·ab·sorp·tion n. Defective or inadequate absorption of nutrients from the intestinal tract. due to pancreatic insufficiency pancreatic insufficiency A relative or absolute lack of pancreatic enzymes, a finding typical of cystic fibrosis. See Cystic fibrosis. * Martin Nicklasson was appointed as the new CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. effective May 14, 2007 January - June * Net revenues were 7 percent higher than the same period the previous year and amounted to SEK 757.1 M (708.1). Net profit improved by 11 percent, and was SEK 103.9 M (93.4), earnings per share were SEK 2.28 (1.93) * Cash flow from operations was SEK 31.7 M (26.9). Cash and cash equivalents and short-term investments as of June 30 amounted to SEK 876.8 M (1,176.3) * Revenues from sales of the hemophilia product ReFacto[R] increased by 30 percent to SEK 592.5 M (455.3). * Revenues from sales of other drugs increased by 26 percent After end of the period * In August Biovitrum entered into a new agreement with Wyeth to market the hemophilia product BeneFIX[R] * The new purification suite in the ReFacto[R] production was approved by the US Food and Drug Administration, FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. CEO comments "The positive trend continues for Biovitrum in the second quarter of 2007. We are able to report positive growth in both profits and sales at the same time as our research projects continued to make good progress," says CEO Martin Nicklasson. "We have also succeeded in increasing our portfolio of marketed drugs, which will have a positive impact on our future sales. At the beginning of the year we launched Aloxi[R] on the Nordic market. This is a new drug to treat nausea caused by chemotherapy. Also, we recently entered into an agreement with Wyeth to market BeneFIX[R] in the Nordic region. Biovitrum has been very successful in the Nordic hemophilia market and this agreement further strengthens our position." To present the report, Biovitrum's CEO Martin Nicklasson and CFO See Chief Financial Officer. Goran Arvidson will hold a Press and Analyst meeting in Stockholm today Thursday August 23 at 15:00 (CET CET abbr. Central European Time CET Central European Time CET n abbr (= Central European Time) → hora de Europa central CET abbr ) at Grand Hotel, conference room "Vapensalen". You may also participate by telephone, dial-in numbers: +46 8 566 363 29(Sweden), +44 203 043 24 36(UK) or +1 866 458 40 87(US). A live broadcast from the presentation will be available on Biovitrum's website at www.biovitrum.com. The presentation material from the conference will be available at www.biovitrum.com under investor relations/presentations. 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 specialist 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 OMX OMX Office Max (stock symbol) Nordic Exchange in Stockholm since September 15, 2006. For more information see www.biovitrum.com/. This information was brought to you by Cision http://newsroom.cision.com |
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