Press release from Companies
Publicerat: 2019-05-08 09:01:02
CEO’s comments The last quarter of the financial year 2019/20 was a good quarter for EQL Pharma, with sales of SEK 14.6 million (7.0), an increase of 107%. For the full financial year, sales were SEK 50.0 million (28.6), an increase of 75%. Profitability also developed well, albeit from low levels, with an EBITDA result of SEK 3.4 million (0.9). The gross margin was 56% (54%), an indication that our product portfolio continues to feel a relatively low competitive pressure. Several new product launches during the fiscal year have contributed to the strong growth, such as potassium chloride, prednisolone, magnesium and clindamycin. The company"s increased number of marketed products and our growing pipeline also generate an increased workload and EQL is currently recruiting another employee. Geographic expansion Geographic expansion is a new component of EQL Pharma"s long-term growth strategy, in addition to expansion of the product portfolio. During the last quarter of the financial year, work began on identifying which products in EQL"s product portfolio that have interesting markets in the EU outside the Nordic region. Marketing and sales in these countries will take place by EQL own effort or through licensees, depending on the nature of the market and the product. Sales in markets outside the Nordic region are expected to generate meaningful revenues during the fiscal year 2020/21 and beyond. Unique products EQL has decided to also include unique medicines in its portfolio, unique in so far that EQL"s pharmaceuticals will be the only registered products with the same API and formulation on the market. The motivation for developing or in-licensing such products is an expected demand in the market, for example because of a better formulation which is shown to have benefits for the patient. The unique products will be the first products in EQL"s portfolio sold as branded products.The first unique products expects to enter the market during the fiscal year 2020/21.
The company has an unchanged goal to grow by at least 30% on average per year during the 5-year period 2016 to 2020/2021 and aims to grow EBITDA at least at the same rate as sales is growing. The assumed growth of 30% per year will be distributed unevenly over the 5-year period. We estimate that sales for the fiscal year 2019/2010 will increase by around 30% compared with the previous fiscal year and that the company"s EBITDA will grow at a similar rate. For further information, please contact: 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 13 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 2019 and onwards. The business is currently entirely focused on prescription pharmaceuticals in the Nordic region. EQL Pharma is based in Lund, Sweden, employs 8 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.January – March 2019 and April 2018 – March 2019
Significant events during the fourth quarter
Significant events after the fourth quarter
The Company’s financial goals
Financials goals
Christer Fåhraeus
CEO EQL Pharma AB (publ)
Phone: +46 (0) 705 – 60 90 00
E-mail: christer.fahraeus@eqlpharma.com
Website: www.eqlpharma.com