Octapharma AG Announces Second Quarter 2009 Results and Mid Term Outlook of the Market10-02-2009
LACHEN, SWITZERLAND (October 2, 2009) – Through June 2009, Octapharma AG realized a record turnover of €536M, compared to €422M as of year-to-date June 2008, an increase of 27%.
The cost of sales increased proportionally more than the turnover, decreasing gross margin from 46.4% to 43.3%, primarily due to increased plasma costs.
Due to increased efficacy in other areas, Octapharma reached a satisfactory level in its operating income through June 2009 (earnings before interest and taxes) of €173M (32.3% margin), compared with €141M (33.4% margin) in the same period of 2008.
Plasma Protein Industry’s Outlook for the Second Half 2009 and 2010
In the area of plasma collection, the fact that plasma collection centers are closing on Saturdays and that the remaining independent plasma suppliers offer discounts confirms that there is an oversupply.
Declining prices in government and hospital tenders worldwide also point in this direction.
In spite of a continuous growth of 5% - 6% in the IVIG market we therefore expect monthly sales to stay at the present level with higher quantities the remaining part of 2009. 2010 will remain flat compared to 2009, again with higher unit sales.
Source: Octapharma’s corporate estimation based on available market information
A high pressure in many countries on the reimbursement structure will further contribute to the negative trend. However, the patients can on this basis experience a more stable supply of products with fewer interruptions. Octapharma intends to overcome the present trend by the launch of new products.
The Octapharma Group is an independent, Swiss-based biopharmaceutical company operating worldwide. Octapharma’s core business is the development, production, and sale of high-quality human proteins for the treatment of life-threatening diseases.
The Group has more than 3,000 employees in 28 countries, and owns five modern, state-of-the-art production facilities in Austria, France, Germany, Sweden and Mexico, respectively.
Octapharma’s company mission is to provide safe and effective biopharmaceutical products derived from human cells or blood plasma to patients in need of lifesaving therapy.
For more information about the company please click here.
© Octapharma AG, 2009