CONSOLIDATED INCOME STATEMENT 2013 2012 2013 2012
Continuing operations (SEK m) Oct-Dec Oct-Dec Jan-Dec Jan-Dec
Net turnover 147.1 48.8 446.1 170.6
Gross profit 126.5 32.4 374.3 109.3
Operating profit before 32.0 -44.9 76.4 -165.3
depreciation and amortisation
Operating profit (EBIT) 20.6 -53.8 25.2 -201.4
Profit/loss before tax 22.8 -58.7 27.7 -210.8
Profit/loss after tax 19.3 -70.6 16.0 -234.1
Operating margin, % 14.0 -110.0 5.6 -118.0
Basic and diluted earnings per 0.62 -2.26 0.51 -7.49
Financial summary for the year as a whole. Continuing Group operations, excluding Cross Pharma.
· Net turnover totalled
Q4 2013 (October - December). Continuing Group operations, excluding Cross Pharma.
· Net turnover totalled
· Simeprevir was approved in
Significant events after the end of Q4
· Interim results from a phase II combination study with simeprevir and samatasvir (IDX719) were presented. · Medivir’s Board has decided to initiate a process to find a new CEO with a strong marketing and sales profile to lead and develop the company's business further.
* All figures refer to the Group, unless otherwise stated. Comparisons in this Interim Report are, unless otherwise stated, with the corresponding period in 2012. Cross Pharma was divested from the Group on
The CEO’s comments on 2013
“Patients with hepatitis C can now be treated with Simeprevir in
2013 was a successful and intensive year. We made important progress in our in-house projects during the year, and simeprevir was approved for the treatment of patients with genotype 1 chronic hepatitis C virus. This means that simeprevir is now available to patients in a number of important markets and that seriously ill patients can be treated with the drug. Simeprevir was approved in
A number of important structural changes were also carried out within the company during the year. We streamlined the company’s operations by divesting Cross Pharma AB and conducted a review of our project portfolio, which resulted in more focused activities.
Research and development One of the important goals of the further development of simeprevir is to produce a completely interferon-free and ribavirin-free treatment. Two additional interferon-free phase II studies, now with the addition of two direct acting antiviral agents to simeprevir, were accordingly initiated during the fourth quarter. In the first study, the patients will be treated with simeprevir, TMC647055 and two different doses of JNJ56914845, without ribavirin, while in the other study, HELIX-2, simeprevir, samatasvir and TMC647055 will be evaluated, with and without ribavirin.
Positive interim data from the interferon-free COSMOS study were presented in November. The aim was to study the efficacy and safety of combination treatment with simeprevir and sofosbuvir, with or without ribavirin, in the most difficult-to-treat patient groups. Additional data from this study will be presented in 2014.
The in-house developed cathepsin K inhibitor, MIV-711, for the treatment of bone-related disorders showed positive results in clinical phase I studies now completed.
Work on nucleotide-based polymerase inhibitors targeting hepatitis C has continued successfully during the year.
These events all illustrate the clear progress being made by our in -house projects.
Pharmaceuticals Our pharmaceutical portfolio generated solid full-year sales of
2013 saw the 25th anniversary of Medivir’s foundation as a company. It is impressive to see how much has happened over these years. Today,
We look forward to an eventful 2014 that will see continued growth and important steps in the development and provision of innovative pharmaceuticals that improve peoples’ health and quality of life.
For further information, please contact:
Conference call for investors, analysts and the media The 2013 Financial Statement will be presented by the CEO,
Phone numbers for participants from:
The conference call will also be streamed via a link on the website, www.medivir.com
Financial calendar The Annual General Meeting will be held on
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http://mb.cision.com/Main/652/9541474/213701.pdf The full report
CONSOLIDATED INCOME STATEMENT 2013 2012 2013 2012 SUMMARY* Continuing operations (SEK m) Oct-Dec Oct-Dec Jan-Dec Jan-Dec Net turnover 147.1 48.8 446.1 170.6 Gross profit 126.5 32.4 374.3 109.3 Operating profit before 32.0 -44.9 76.4 -165.3 depreciation and amortisation (EBITDA) Operating profit (EBIT) 20.6 -53.8 25.2 -201.4 Profit/loss before tax 22.8 -58.7 27.7 -210.8 Profit/loss after tax 19.3 -70.6 16.0 -234.1 Operating margin, % 14.0 -110.0 5.6 -118.0 Basic and diluted earnings per 0.62 -2.26 0.51 -7.49 share, SEK