EQL Pharma is switching to function-based accounting
EQL Pharma changes the presentation of the income statement to function-based accounting from the financial year 2020/21.
In Sweden there are two allowed formats of the income statement in accordance with the Annual Accounts Act (1995: 1554), the expense category based and classified by function.
Under the K3 regulations that EQL Pharma applies, both forms of set-up can be used and EQL Pharma has used the cost-based set-up since the company's start. As an adjustment prior to the transition to IFRS, EQL Pharma will, from the first quarter of 2020/21, present the function-based income statement.
The first report with the function-based income statement will be published on August 27, 2020. EQL Pharma will strive to recalculate the comparative figures for previous years, in order to increase the possibilities for comparison.
For further information, please contact:
CEO, EQL Pharma AB (publ)
Phone: +46 (0) 705 – 60 90 00
EQL Pharma AB (publ) in short
EQL Pharma AB specializes in developing and selling generics, i.e. medicines that are medically equivalent to originator medicines. The company currently has 18 niche generics (i.e. generics with little or no competition apart from the originator drug) approved in the Nordic markets. In addition to these, there exist a significant pipeline of additional niche generics for launch in 2020 and beyond. The business is currently entirely focused on prescription drugs. EQL Pharma AB conducts its operations in Lund, employs 9 people and is listed on the Spotlight Stock Market. EQL Pharma AB conducts extensive development work in collaboration with leading contract manufacturers and major pharmaceutical companies in the EU, India and China, among others.