Interim report January – September 2017

CEO’s comments

EQL Pharma continues to show weak numbers in parity with our previously announced financial outlook. The temporary withdrawal of Hydroxyzine EQL Pharma continues to effect sales and earnings.

During the quarter, the drug Zonisamid EQL Pharma has been launched on the Danish market, while at the same time the drug Eletriptan EQL Pharma has been approved within the framework of a DCP.

We continue to develop our portfolio and in total our pipeline has been expanded with three products, both in licensed products and developmental products are represented in the expansion.

We are also strengthening our staff in order to handle a growing number of development projects and MAAs to the Medicinal Product agencies in the Nordic. In October, Katarina Wallentin was employed as Senior Regulatory Affairs Manager. Katarina has 10 years of experience in Regulatory Affairs in different positions and over 14 years of experience as an analytical chemist.

July – September and January – September 2017

  • Consolidated sales for the second quarter amounted to SEK 7.0 (3.1) million, an increase of 127%. For the period January – September the consolidated sales amounted to SEK 19.1 (20.6) million, a decrease of 7%.
  • Gross profit for the quarter amounted to SEK 4.7 (3.5) million, an increase of 35%. For the first nine (9) months gross profit amounted to SEK 12.6 (15.5) million, a decrease of 19%.
  • EBITDA for the quarter amounted to SEK 0.9 (0.4) million, an increase of 120%. EBITDA for January – September amounted to SEK 1.3 (4.9) million, a decrease of 73%.
  • Earnings per share were 0:03 (0:00) SEK for the quarter.
  • Cash and cash equivalents was SEK 15.7 (28.3) million at the end of the period.

Significant events during the third quarter of 2017

  • The drug Zonisamid EQL Pharma has been launched on the Danish market. Zonisamid EQL Pharma is an anti-epileptic, and is used in the treatment of epilepsy. The original is called Zonegran (Eisai Limited). The total turnover of Zonisamid in Denmark is approximately SEK 10 million annually. Currently the original and 3 competitors are on the market.
  • The drug Eletriptan EQL Pharma has been approved within the framework of a decentralized procedure (a common approval procedure used when more than one country is involved). Eletriptan is used in adults to treat migraine, with or without aura. The total turnover in Sweden and Denmark is approximately SEK 15 million annually. Currently, only the original Relpax (Pfizer) is available on the market in Sweden. In the Danish market, there are two generic competitors in addition to the original. EQL Pharmas goal is to start selling the product by Q1 2018.

Significant events after the third quarter of 2017

  • In October, Katarina Wallentin was employed as Senior Regulatory Affairs Manager. Katarina has a B.Sc in Chemistry from Lund University and over 10 years of experience in Regulatory Affairs from various positions in addition to 14 years as an analytical chemist. Katarina previous assignment was with Glenmark Pharmaceuticals.

Pipeline

EQL presentation of the pipeline is at a high level and does not include the names of individual products nor the products' current or expected market size. Our intention is to provide better guidance to shareholders without divulging information to competitors and without implying that the pipeline is interpreted as a financial outlook. Our intention is to update the information regularly, mainly in the quarterly reports.

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 nine (9) niche 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 7 (8) people and is listed on 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.

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