Reports
Publicerat: 2020-11-06 08:10:00
Another quarter with more then 30 percent growth
CEO’s comments The second quarter of 2020/21 was another quarter with good growth for EQL Pharma. Sales for the quarter amounted to SEK 24.2 million, an increase of 36%. During the quarter, an order for healthcare consumables, totalling SEK 8 million, was received from a Hospital region. Around 3 MSEK of this order was invoiced during the quarter and the remaining part will be invoiced during the third quarter. The corona epidemic has had a minor impact on our company, where some products sell more than usual due to stock-outs for our competitors and other products such as antibiotics sell less due to reduced bacterial infections in the society as a result of social distancing. The net effect for us is a slight increase in sales and a slightly better gross margin. Our goal is to become a leading company in niche generics in the Nordic region and in the next phase in Europe. To succeed in this, we need to continue investing in new products and we need to expand our geography to include the whole of Europe and not just the Nordic region. During the quarter, we continued to invest in European expansion, one of our strategic growth dimensions. An investigation is now being carried out with all our products including our pipeline to determine in which markets they will be launched. In addition, we investigate in which markets we can sell directly through our own organization and in which markets we will out-licens our products. Our second growth dimension, expansion of our product portfolio, is also underway with relatively high intensity. Our assessment is that there are many interesting products left that are suitable for development, i.e. that are expected to generate a good return. The work of preparing the Company for a listing on Nasdaq Stockholm's main list is in full swing with the goal of implementing the listing change during the first financial quarter 2021/22. As part of the preparation for the transition to IFRS, a requirement on the main list, we have changed our presentation of the income statement to function-based accounting. In summary, intensive work is carried out on several fronts, a natural consequence of our aggressive growth goals. July - September April - September For further information, please contact: Phone: +46 (0) 705 – 60 90 00 EQL Pharma AB (publ) in short
Christer Fåhraeus
CEO, EQL Pharma AB (publ)
E-mail: christer.fahraeus@eqlpharma.com
Website: www.eqlpharma.com
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.