Reports

Publicerat: 2019-02-27 08:41:12

EQL Pharma AB: Interim report October - December 2018

CEO’s comments

The company completed a rights issue during the quarter, which enables continued expansion of our pipeline. The issue was oversubscribed by just over 60 per cent. In terms of turnover, the company has grown by just under 50 percent in the third quarter compared with the previous year and with a retained gross margin of over 50 percent. Our focus on pipeline expansion and our growing product portfolio generates increased workload and during the period EQL has recruited a new employee. The quarterly result was affected by a conservative activation policy and a one-time write-down of approximately SEK 820 for a product where we misjudged the possibilities for substitution against the original. Several products received marketing authorization from the Swedish Medical Products Agency during the quarter, which will be launched at the beginning of the next fiscal year.

October – December and April - December

  • Consolidated sales for the third quarter amounted to SEK 11.4 (7.8) million, an increase of 47%. During April - December consolidated sales amounted to SEK 35.3 (21.5) million, an increase of 64%.
  • Gross profit for the quarter amounted to SEK 6.1 (5.3) million, an increase of 15%. For April – December gross profit amounted to 20.0 (13.9) million, an increase of 44%.
  • EBITDA for the period amounted to SEK 0.0 (0.5) million. For the period April - December EBITDA amounted to SEK 3.0 (1.5) million.
  • Earnings per share were -0:06 (0:01) SEK for the quarter.
  • Cash and cash equivalents was SEK 27.2 (11.5) million at the end of the period.

Significant events during the third quarter

  • During the quarter, the company completed a rights issue that provided the company with SEK 24.9 million before issue costs. The capital contribution enables continued aggressive expansion of the company"s pipeline and the issue proceeds will be used exclusively for the development of and applications for new niche generics and specialty pharma.

  • The drug Clindamycin EQL Pharma was approved by the Swedish Medical Products Agency during the quarter. Clindamycin EQL Pharma is a bactericidal agent (antibiotic) and is expected to be launched in the second quarter of 2019.

  • In December, the drug Pregabalin EQL Pharma was also approved by the Swedish Medical Products Agency. Pregabalin EQL Pharma belongs to a drug group used to treat epilepsy, neuropathic pain and generalized anxiety disorder in adults. Pregabalin EQL Pharma is expected to be launched during Q2 2019.

For further information, please contact: 
Christer Fåhraeus
CEO EQL Pharma AB (publ)
Phone: +46 (0) 705 – 60 90 00
E-mail: christer.fahraeus@eqlpharma.com
Website: www.eqlpharma.com 


About EQL Pharma  

EQL Pharma is specialized in developing and selling generics, i.e. drugs that are medically equivalent to the original medicines. The company currently markets twelve (12) generics in the Swedish, Danish and Finnish markets. In addition to these, there is a significant pipeline of additional niche generics (generics with little or no competition except for the original) for launch in 2018 and onwards. The business is currently entirely focused on prescription pharmaceuticals in the Nordic region. EQL Pharma is based in Lund, Sweden, employs 8 (7) people and is listed on Spotlight Stock Market (AktieTorget). EQL Pharma also conducts extensive development in cooperation with leading contract manufacturers developers and major pharmaceutical companies in, amongst other countries, India and China.

CisionLink
Read as PDF
Läs mer hos Cision
Läs mer om EQL Pharma AB