Change of focus boosts Q1 sales at Biovitrum
Net revenues increased by 78% in the first quarter of 2009 for Swedish pharma company Biovitrum compared with the same period in 2008, reaching SEK355.2m (Euro 33m). The increase was mainly owing to sales of Kineret and Kepivance, from which revenues were SEK133.6m (€12m). Total revenues from ReFacto were SEK203m (€19m).
Net revenues increased by 78% in the first quarter of 2009 for Swedish pharma company Biovitrum compared with the same period in 2008, reaching SEK355.2m (Euro 33m). The increase was mainly owing to sales of Kineret and Kepivance, from which revenues were SEK133.6m (â"šÂ¬12m). Total revenues from ReFacto were SEK203m (â"šÂ¬19m).
Operating profit increased to SEK12m (â"šÂ¬1m).
During the quarter ReFacto AFTM was approved for sale in Europe and Biovitrum also signed an agreement with Karolinska Development to continue development of the leukemia project (FLT 3) within a jointly-owned project company.
In addition, an agreement was reached with Affibody on drug development collaboration using the company's unique technology.
Martin Nicklasson, ceo of Biovitrum, said: "Biovitrum has now been transformed from a research company into an international pharmaceutical company, which is reflected by a strong operating result for the first quarter. Important contributors are the sales of Kineret and Kepivance, which were slightly better than our forecast for the period."
He said the company had changed the direction of its research to focus on biotechnological, specialist pharmaceuticals and the agreement with Affibody was a good example of this.