Year-end report 1999

Year-end report 1999 * Full-year sales increased by 18% to SEK 340 million after a very strong fourth quarter. * Earnings per share up 29% to SEK 5.26 (4.07). * Major victory for Biacore in U.S. patent dispute. * Strategic focus on drug discovery as a major growth opportunity. Key collaboration agreements signed. * Technology breakthrough opens new application areas. * For the full-year 2000, a sales growth in the range of 10-15% is expected. January - December October - December 1999 1998 Change 1999 1998 Change Sales, SEK million 340.4 288.8 +18% 137.4 100.9 +36% Operating income, SEK million 67.6 52.8 +28% 43.0 23.2 +85% Operating margin, % 20 18 31 23 Income after financial items, SEK million 75.3 57.3 +31% 45.6 21.0 +117% Earnings per share, 5.26 4.07 +29% 3.07 1.51 +103% SEK Biacore is a global market leader in affinity-based biosensor technology with its own sales operations in the U.S., across Europe, in Japan, Australia and New Zealand. The technology is protected by a strong patent portfolio. Target groups consist primarily of medical and life science research laboratories and pharmaceutical and biotechnology companies all over the world. Biacore focuses on drug discovery as the prime area for future growth. Based in Uppsala, Sweden, the company is listed on the OM Stockholm Exchange and Nasdaq in the U.S. Operations in 1999 Amounts stated in this report pertain to the Biacore Group, unless indicated otherwise. Figures in parentheses refer to 1998. Biacore had a very successful year in 1999. Sales increased by 18% to SEK 340.4 million (288.8). The growing appreciation of the value of Biacore's affinity-based biosensor technology resulted in strong sales growth, both for basic life science research and early drug discovery applications. The success of the new BIACORE 3000 system was a key element of this growth. The growth rate increased significantly towards the end of the year and amounted to 36% in the fourth quarter. Full-year sales increased by 13% excluding currency effects. Sales were divided geographically as follows: January - December October - December SEK million 1999 1998 Change 1999 1998 Change Americas 141.2 126.0 +12% 51.3 31.6 +62% Europe 116.2 92.1 +26% 50.5 31.6 +60% Asia-Pacific 83.0 70.7 +17% 35.6 37.7 -6% Sales in the Americas, essentially the U.S., developed very strongly during the second half of the year and reached an all-time high of SEK 51.3 million in the fourth quarter. The 12% overall revenue increase achieved in 1999 is a very good result given the 45% sales increase that was recorded for the full-year 1998. European sales also set a new record in the last quarter of the year amounting to SEK 50.5 million. The full- year sales increase of 26% reflects a combination of good market growth and an increased penetration by Biacore's sales organization. Sales in Asia-Pacific developed well during 1999 with an increase of 17%. This is primarily due to Biacore establishing its own sales and marketing organization in Japan at the beginning of 1999. The decrease in the fourth quarter 1999 compared with the same period in 1998 should be seen as a reflection of the extreme accumulation of sales towards the end of 1998 rather than a weakening of sales in 1999. More than half of full-year 1998 sales in Asia-Pacific were in the fourth quarter. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/16/20000216BIT00300/bit0001.doc http://www.bit.se/bitonline/2000/02/16/20000216BIT00300/bit0002.pdf

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Biacore™ systems for label-free interaction analysis generate unique data on molecular interactions, giving insights into biological functions and disease mechanisms, and facilitating efficient therapeutic development. Application areas include drug discovery, general life science research, antibody characterization, immunogenicity, biotherapeutic development and manufacture. Biacore AB is a GE Healthcare company. Further information: www.biacore.com

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