Brief: Orexo Q1 EBITDA Up At SEK 39.1 Mln

Orexo AB

28/04/2020 07:15

April 28 (Reuters) - Orexo AB  ORX.ST :
    * INTERIM REPORT Q1 2020
    * Q1 TOTAL NET REVENUES OF SEK 175.0 M (174.3), UP 0.4
PERCENT
    * Q1 EBITDA OF SEK 39.1 M (12.0), UP 225.8 PERCENT
    * Q1 US PHARMA (ZUBSOLV® US) NET REVENUES OF SEK 163.9 M
(161.7),
UP 1.3 PERCENT IN SEK AND -4.0 PERCENT IN LOCAL CURRENCY
    * Q1 HQ & PIPELINE NET REVENUES OF SEK 11.1 M (12.6)
    * FINANCIAL OUTLOOK 2020 IS REITERATED
    * OUR Q1 PERFORMANCE IS IN LINE WITH EXPECTATIONS, WITH A
DECLINE
IN DEMAND FOR ZUBSOLV® DUE TO GENERIC COMPETITION IN SOME
PREVIOUSLY EXCLUSIVE CONTRACTS WITH UNITED HEALTH GROUP AND
HUMANA
    * REDUCTION IN SALES VOLUME HAS BEEN OFFSET BY HIGHER
AVERAGE NET
PRICES, A REDUCTION IN PRODUCT RETURNS AND IMPROVED GROSS
MARGINS
    * EARLY INDICATORS SUGGEST COVID-19 IS IMPACTING MARKET
DYNAMICS,
RESULTING IN AN INCREASE IN AVERAGE PRESCRIPTION SIZE AND AN
UPTICK IN DEMAND FOR ZUBSOLV® WAS SEEN DURING MARCH
    * ON CORONAVIRUS: LONGER-TERM COVID-19 PANDEMIC IS EXPECTED
TO
INCREASE DEMAND FOR ADDICTION TREATMENT

Source text for Eikon:  ID:nWkrbg9kGL 
Further company coverage:  ORX.ST 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))