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Meda AB (Publ) - Interim Report, January-March 2012

Wednesday, May 9, 2012 2:14 AM


Regulatory News:

Meda AB(STO:MEDAA):

  • Group net sales reached SEK 3,375 million (2,944). At fixed currency rates, sales increased 14%.
  • EBITDA rose to SEK 1,151 million (1,119), corresponding to a 34.1% margin (38.0).
  • Operating profit amounted to SEK 618 million (650).
  • Profit after tax amounted to SEK 370 million (373).
  • Earnings per share reached SEK 1.24 (1.24).
  • Cash earnings per share reached SEK 1.93 (1.99).

Highlights

Dymista approved by the FDA

  • The US Food and Drug Administration (FDA) approved Dymista.
  • Dymista is a new patented product for the treatment of seasonal allergic rhinitis, which annually affects about 60 million patients in the US. · Dymista has in several clinical studies consistently shown rapid and more complete relief of symptoms compared with standard treatment.
  • Efficacy and safety were documented in studies with more than 4,000 patients, including a long-term study of more than 600 patients.CEO STATEMENT

Sales increased by 14% to SEK 3,375 million. Key products in priority areas showed good growth rates. As measured by organic growth, the outcome was unchanged compared with 2011 – a significant improvement over the fourth quarter last year.

There is a dividing line between pharmaceutical companies that have new products and those that do not. Meda has a valuable pipeline of products that are also close to market. A higher rate of investment in marketing will help take advantage of these growth opportunities. Investments are being made primarily in these areas:

  • Dymista has the highest priority and clearly the greatest potential, and was recent approved by the FDA. It has been quite some time since a Swedish pharmaceutical company has had a drug with blockbuster potential registered in the US. We are working very actively on the US launch, scheduled for this fall. The registration process in other markets is progressing as planned, and we are hoping for approval in Europe next year.
  • Initiatives in emerging markets continue.

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