DanCann Pharma A/S: Solid growth in the Rx portfolio
COPENHAGEN, Denmark, 18 June 2024 - DanCann Pharma A/S (SS: DANCAN) ("DanCann Pharma" or the "Company"), a Danish company powered by cannabinoids, hereby provides an update on its current portfolio and expectations for the year ahead.
Key highlights from the portfolio1 and pipeline2:
- Growth in 2023: Achieved a sales growth of +40% year-over-year (YoY) in pharmacy sales.
- Sales volume: This growth equated to +14,000 packages of medicine.
- 2024 projections: The Company aims to further increase the current Rx portfolio sales volume to 20,000 packages in 2024, representing a YoY increase of approximately 40%.
- Revenue Projection: The portfolio is expected to contribute approximately DKK 10-11 million in revenue to the 2024 guidance.
- New Launches: These figures are complemented by the planned launch of the new pipeline throughout the year.
1) The portfolio: Bedrocan®, Bedica®, and Bediol®
2) The pipeline: EXT02, EXT03 and FLS04 and FLS05
As commented in the Company’s 2023 annual report, there was notable growth in the sales of its portfolio at pharmacies, where the overall portfolio collectively grew by over 40% year-over-year (YoY) from the previous year (2022 to 2023). The ambitions for the current year (2024) are aligned accordingly, with an expectation to achieve the same growth rate as the previous year, thereby transitioning from the sale of approximately 14,000 packages of medicine to over 20,000 packages of medicine from the current product portfolio.
This sales projection is anticipated to generate approximately DKK 10-11 million in revenue, which will be supplemented by the planned launch of the new pipeline throughout the year. In total, it is expected that the Company will have sales of +22,500 packages of medicine, including the planned pipeline, which is anticipated to be gradually initiated throughout H2-2024, with the rollout of the new medication expected to progress over time.
For media inquiries or further information, please contact:
Jeppe Krog Rasmussen, CEO
DanCann Pharma A/S
Email: jkr@dancann.com
About DanCann Pharma A/S
DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids. DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen/Stockholm.
For more information, please visit: www.dancann.com
Forward-looking-statement:
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events, or developments that the Company believes, expects, or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology.
Forward-looking statements are subject to several risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the inability of the Company, to obtain sufficient financing to execute the Company’s business plan; competition; regulation and anticipated and unanticipated costs and delays, the success of the Company’s research strategies, the applicability of the discoveries made therein, the successful and timely completion and uncertainties related to the regulatory process, the timing and outcomes of regulatory or intellectual property decisions and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities.
Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements included in this presentation are made as of the date of this presentation and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.