IN 2017 VIFOR PHARMA RECORDED A STRONG FINANCIAL PERFORMANCE DRIVEN BY ITS THREE MEDIUM-TERM STRATEGIC GROWTH-DRIVERS AND THE SUCCESSFUL DIVESTITURE OF ITS NON-CORE WHOLESALE/RETAIL PHARMACY BUSINESS VIA AN IPO. THE COMPANY EXCEEDED ALL ELEMENTS OF ITS GUIDANCE, WHICH IT RAISED AT THE HALF-YEAR 2017 REPORTING. STRONG GROWTH IS EXPECTED TO CONTINUE IN 2018 AND BEYOND.
Financial performance - strong growth trends continues
- Significant revenue growth, with net sales of CHF 1,342.1 million, up 15.2% on a contract currency basis
- Reported EBITDA excluding launch and ramp-up costs of Veltassa® increased to CHF 511.8 million, up 17.7%
- Strong growth momentum continued in H2 for our three key medium-term strategic growth driver, Ferinject®, Vifor Fresenius Medical Care Renal Pharma (VFMCRP) and Veltassa®
- Strong balance sheet and liquidity position with cash net of debt of CHF 191.1 million
- All three components of our guidance, which we raised on 8th August 2017, were exceeded
Three medium-term strategic growth-drivers on track
- Reported net sales of Ferinject®/Injectafer® up 24.6%
- Intiation of first Ferinject® study (AFFIRM-AHF) in acute heart failure
- Velphoro® net sales increase of 48.6%
- Post-period end avacopan conditional marketing authorization application accepted for regulatory review in Europe
- Reported net sales of Veltassa® in its second year post-launch of CHF 51.7 million
- Veltassa® approved in the 28 EU countries plus Norway, Liechtenstein, Iceland, Switzerland and Australia treatment of hyperkalameia in adults
Significant partnering and licencing deals concluded
- Territory rights to avacopan (CCX168) expanded to everywhere outside the US and China
- Agreement with Akebia Therapeutics to sell vadadustat to Fresenius Medical Care North America dialysis clinics in the US
- Exclusive rights to develop and commercialise avacopan (CCX168) in Japan granted to Kissei Pharmaceutical Co., Ltd
- Exclusive license agreement for commercialisation of Mircera® in the US expanded
Milestone 2020 strategic plan on track
- Galencia Santé successfully divested via an initial public offering on SIX Swiss Exchange
- Investments committed to launch and roll-out new products; impact of ACHF 850 million on EBITDA from 2016 to 2019
Strong growth expected to continue in 2018 and beyond
- Net slaes expected to grow more than 10% at constant exchange rates
- Reported EBITDA expected to increase more than 20%
- Confirmation that 2020 net sales expected to exceed CHF 2 billion and EBITDA to reach a high triple-digit level
- Post-period end ferroportin inhibitor VIT-2763 entered phase-I studies
FINANCIAL PERFORMANCE
| In million CHF | FY 2017 | FY 2016 | Change in % |
| Net sales | 1,342.1 | 1,167.0 | 15.0 |
| EBITDA excluding launch and ramp-up of Veltassa® | 511.8 | 434.7 | 17.7 |
| Cash net of debt | 191.1 | -1,832.4 | n/a |
| Net profit after minorities | 1,147.1 | 237.0 | 384.0 |
| Core earnings per share | 2.12 | 3.00 | -29.3 |
For further details, please see the Vifor Pharma Group 2017 Annual Report (PDF only) at www.viforpharma.com.
For the full press release in English, please click here
Live conference call and webcast
Vifor Pharma will host a live conference call (see phone numbers below) and webcast (https://edge.media-server.com/m6/p/2acgz56v) on the 15 March 2018 at 1:00 p.m. (CET). The pin code for the live conference call is 8815932.
| Phone numbers for the live conference call | Local | Free |
| Switzerland | +41 22 567 5750 | 0800 222 801 |
| France | +33 1 76 77 2257 | 0805 101 278 |
| Germany | +49 69 2222 2018 | +49 69 2222 2018 |
| United Kingdom | +44 330 336 9411 | 0800 279 7204 |
| United States of America | +1 646 828 8193 | 888-394-8218 |
| Other countries | +44 330 336 9411 |
Replay
A webcast replay (https://edge.media-server.com/m6/p/2acgz56v) will be available from 15 March 2018 at approximately 4:00 p.m. (CET) to 14 March 2019.
FURTHER INFORMATION
Media Relations
Heide Hauer
Head of Corporate Communications
Tel.: +41 58 851 80 87
E-mail: media@viforpharma.com
Investor Relations
Julien Vignot
Head of Investor Relations
Tel.: +41 58 851 66 90
E-mail: investors@viforpharma.com
Vifor Pharma Group, formerly Galenica Group, is a global specialty pharmaceuticals company. It aims to become the global leader in iron deficiency, nephrology and cardio-renal therapies. The company is the partner of choice for specialty pharmaceuticals and innovative patient-focused solutions. Vifor Pharma Group strives to help patients around the world with severe and chronic diseases lead better, healthier lives. The company develops, manufactures and markets pharmaceutical products for precision patient care. Vifor Pharma Group holds a leading position in all its core business activities and consists of the following companies: Vifor Pharma; Vifor Fresenius Medical Care Renal Pharma, a joint company with Fresenius Medical Care; Relypsa; and OM Pharma. Vifor Pharma Group is headquartered in Switzerland, and listed on the Swiss Stock Exchange (SIX Swiss Exchange, VIFN, ISIN: CH0364749348). For more information, please visit www.viforpharma.com.
