Further strong sales development for Abstral
• Net revenues amounted to MSEK 36.4 (114.9). 1)
• Abstral royalty increased to MSEK 8.5 (1.3)
• Abstral approved in Italy and TUER 650 in milestones received
• The loss after tax was MSEK 27.6 (profit: 26.3).
• The loss per share before dilution was SEK 1.18 (profit: 1.20).
• The loss per share after dilution amounted to SEK 1.18 (1.15).
• Cash and cash equivalents at the end of the quarter totaled MSEK 50.4 (148.2).
• As per April 7 cash position amounted to MSEK 161.
Torbjörn Bjerke, President and CEO, comments:
During the first quarter of the year, we experienced strong growth in sales of Abstral to end customers in Europe. Abstral continued to grow sales in all markets and is now the market leader in cancer pain drugs in the UK.
Another key event during the period was securing approval for Abstral in Italy, and has potential to become one of the major Abstral markets in Europe. During the remainder of the year, we expect further approval in several important markets, including the USA.
Through Novo Growth Equity, Novo A/S has become a new, strategic shareholder in part through an investment in a convertible loan and in part through the acquisition of shares from existing shareholders. Novo investment is based on that Orexo has achieved substantially results through the years which has resulted in that we now have three launched products developed on our own on the market.