Actelion delivers strong half year operational and financial results
Actelion Ltd announced its results for the first half of 2014:
- Product sales of CHF 993 million, up 17% at Constant Exchange Rates (CER), 11% excluding US rebate reversals
- Core earnings of CHF 421 million, up 35% at CER, 21% excluding US rebate reversals
- Core EPS of CHF 3.25, an increase of 48% at CER
- Upgraded 2014 financial guidance - Core earnings growth to be at least in mid-teen percentage range and when excluding rebates reversals to be at least low double-digit - all at CER
As of 30 June 2014, Actelion had cash and cash equivalents of CHF 947 million. In addition, Actelion holds 9 million treasury shares.
Jean-Paul Clozel, MD, Chief Executive Officer, commented: "In the first half year 2014 we have made great strides in delivering on our strategy; by growing our PAH franchise, by advancing our specialty franchises and by optimizing our profitability. Looking ahead, we are confident that we will continue to create value for all our stakeholders, and deliver significant returns to shareholders. Highlights are the strong launch momentum of Opsumit in key markets around the world, the positive Phase III data with selexipag and 35 percent increase in core earnings."
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