Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms

Pharmiweb.com RSS Feed Pharmiweb.com RSS Feeds

Advertising

Press Release

GUERBET : Revenue at June 30, 2017

GUERBET
Posted on: 27 Jul 17

              
€397.7 million at constant exchange rates, up 5.6%

Satisfactory activity growth

Villepinte, July 27, 2017 - Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is publishing revenue of €407.1 million for the 1st half-year of 2017, up 8.1% at current exchange rates and 5.6% at constant exchange rates (CER). In the second quarter, published revenue stood at €204.0 million, up 5.7% at current exchange rates and 3.8% at CER.

Consolidated Group revenue (IFRS)

In millions of euros
at June 30
Change (%)  

2017
at current exchange rates

 
Change (%)  

2017
at constant exchange rates

 
2016
published

 
Sales in Europe +0.6% 190.9 +1.6% 192.8189.7
Sales in Other Markets +15.6% 216.2 +9.6% 204.9187.0
Total 1st half-year
revenue
+8.1% 407.1 +5.6% 397.7 376.7

After a successful year in 2016, focused on turning around the declining ex-CMDS business, Guerbet's revenue for the first half-year of 2017 grew both in Europe and the Other Markets. This positive development has come despite the gradual withdrawal of certain products, which is already under way, as part of the recently announced plan to streamline Guerbet's product range. This includes products such as Oxilan ® and Hexabrix ® in X-Ray imaging, and Optimark ® in MRI.

In Europe, in the second quarter, the revenue at current exchange rates for the zone rose by 0.1% to €96.6 million.


The exchange rate effect for Other Markets resulted in a €11.3 million gain. Aside from this positive impact, the increase in revenue was mainly due to sales in Asia, and especially China, in the US and in Latin America. Sales at current exchange rates were up 11.3% at €107.4 million for Other Markets over the quarter.  

At constant exchange rates, activity over the first half-year breaks down as follows:

  • In the MRI segment, the 13.5% increase in revenue (€136.3 million) was supported by the performance of Dotarem ® , particularly in the US and China
  • The X-Ray segment gained 2.9% to €188.5 billion, driven by strong Optiject ® sales
  • In the IRT segment, sales fell by 5.6% to €23.9 million, because of temporary difficulties with the supply of Lipiodol ® and Patent Blue V
  • The Imaging Solutions and Services (ISS) segment grew 12.8% to €40.0 million, confirming the trend that began at the end of the fiscal year 2016.

             
             

Activity growth in 2017

Guerbet would like to note two recent changes to the regulations and its competitive environment:

  • The arrival of a new generic in Europe based on the Group's main product (Dotarem)
     
  • The recent recommendations of the European Medicines Agency's Pharmacovigilance Risk Assessment Committee (PRAC - see the PRAC's press release of July 7, 2017), which suspend marketing authorization for certain linear gadolinium-based products that pose a higher risk of gadolinium accumulation. These recommendations are good news for macrocyclic MRI contrast media such as Dotarem. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has confirmed the PRAC's analysis (press release of July 21). This recommendation has now been submitted to the European Commission, which should make a decision in September.

These two factors will have opposite effects - one negative, the other positive - on the Group's activity in the MRI segment.

Given how difficult it is to assess these effects, the Group will not provide precise annual guidance. As the first half-year was satisfactory, however, Guerbet is maintaining its revenue and EBITDA growth target for fiscal year 2017.

Upcoming events:
Publication of the 2017 half-yearly consolidated accounts
September 26, 2017, after trading



About Guerbet

Guerbet is a pioneer in the contrast agents field with over 90 years' of experience and is one of the leaders in medical imaging worldwide. It offers a full range of pharmaceutical products, medical devices and services for X-ray (XR) and Magnetic Resonance Imaging (MRI) scanners and for Interventional Radiology and Theranostics (IRT) to improve the diagnosis and treatment of patients. With 7% of its revenue and more than 200 employees dedicated to R&D, Guerbet invests heavily in research and innovation. Guerbet (GBT) is listed on Euronext Paris (Segment B - Mid Caps) and generated €776 million in revenue in 2016. For more information about Guerbet, visit www.guerbet.com

For more information about Guerbet, please visit www.guerbet.com

Contacts

Guerbet Actifin
Jean-François Le Martret
Chief Financial Officer
+33 (0)1 45 91 50 00

 

 

 

 
Financial Communications
Benjamin Lehari
+33 (0)1 56 88 11 25
blehari@actifin.fr

 

Press
Jennifer Jullia
+33 (0)1 56 88 11 19
jjullia@actifin.fr

 
Press release


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: GUERBET via GlobeNewswire
HUG#2123772
GlobeNewswire
globenewswire.com

Last updated on: 28/07/2017

Advertising
Site Map | Privacy & Security | Cookies | Terms and Conditions

PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.