Interim report January - September 2009
• Group revenues from sales of goods and royalties amounted to 1,016 (936) MSEK. • Earnings per share amounted to 6.38 (0.78) SEK. • Operating income amounted to 676 (100) MSEK. • In April 2009 Q-Med AB and Oceana Therapeutics, LCC., based in the US, entered into global agreements regarding commercialization rights to Deflux® and Solesta™. The agreements gave Q-Med an initial payment of 517 MSEK in total in June, partly as a purchase sum for Q-Med Scandinavia, Inc., the subsidiary that was divested within the framework of the agreements, and partly as payment for Oceana’s share of certain study costs. The net revenue of 496 MSEK has been recorded in the Group income statement in the Other operating revenues row. • Revenues within the Esthetics product area amounted to 846 (765) MSEK and operating income was 195 (177) MSEK. For the Hospital Healthcare product area revenues from sales of goods and royalties were 170 (171) MSEK and operating income was 537 (-22) MSEK. Operating income includes the net revenue from the Oceana deal. • Net income after tax amounted to 634 (77) MSEK. July - September • Group revenues from sales of goods and royalties amounted to 295 (306) MSEK during the third quarter and operating income amounted to 51 (61) MSEK. Operating income for the Esthetics product area amounted to 53 (59) MSEK and for the Hospital Healthcare product area operating income amounted to 18 (8) MSEK. • Net income after tax amounted to 42 (45) MSEK during the third quarter. • When the FDA advisory committee (Orthopaedic and Rehabilitation Devices Advisory Committee) in the USA met on August 19, 2009, further information was requested in order to be able to recommend Premarket Approval, PMA for DurolaneTM. Together with its partner, Smith & Nephew, Q-Med is now continuing to work with the FDA to provide the information necessary for Premarket Approval. • As Q-Med’s revenues during July and August 2009 were considerably lower than during the same period in 2008, Q-Med issued a press release on September 18, 2009 with an update regarding the development of Q-Med’s sales and results. If sales during September had continued at the same rate as during July and August, revenues for the third quarter would have been approximately 20 percent lower than for the corresponding period in 2008. However, during September 2009 sales revenues increased substantially compared to July and August. At the end of the third quarter sales revenues were only 5 percent lower, 286 (302) MSEK, compared to the same period in 2008.