LACHEN, Switzerland, Oct. 2 /PRNewswire/ -- Through June 2009, Octapharma AG realized a record turnover of 536 M euro, compared to 422 M euro as of year-to-date June 2008, an increase of 27%.
The cost of sales increased proportionally more than the turnover, decreasing gross margin from 46.4% to 43.3%, primarily due to increased plasma costs.
Due to increased efficacy in other areas, Octapharma reached a satisfactory level in its operating income through June 2009 (earnings before interest and taxes) of 173 M euro (32.3% margin), compared with 141 M euro (33.4% margin) in the same period of 2008.
Plasma Protein Industry's Outlook for the Second Half 2009 and 2010
In the area of plasma collection, the fact that plasma collection centers are closing on Saturdays and that the remaining independent plasma suppliers offer discounts confirms that there is an oversupply.
Declining prices in government and hospital tenders worldwide also point in this direction.
In spite of a continuous growth of 5% - 6% in the IVIG market we therefore expect monthly sales to stay at the present level with higher quantities the remaining part of 2009. 2010 will remain flat compared to 2009, again with higher unit sales.
A high pressure in many countries on the reimbursement structure will further contribute to the negative trend. However, the patients can on this basis experience a more stable supply of products with fewer interruptions. Octapharma intends to overcome the present trend by the launch of new products.
Headquartered in Lachen, Switzerland, Octapharma is the third largest plasma products manufacturer in the world and has been committed to patient care and medical innovation for over 25 years. Octapharma's core business is the development, production and sale of high quality human protein therapies from both human plasma and human cell lines, including immune globulin intravenous (IGIV). In the U.S., Octapharma's IGIV product, octagam® (immune globulin intravenous [human] 5%), is used to treat disorders of the immune system, and Octapharma's Albumin (Human) is indicated for the restoration and maintenance of circulating blood volume. Octapharma employs over 3,000 people and has biopharmaceutical experience in 80 countries worldwide, including the United States, where Octapharma USA is headquartered in Hoboken, N.J. Octapharma operates two state-of-the-art production sites licensed by the U.S. Food and Drug Administration, providing the highest level of production flexibility and minimizing product shortages. For more information, please visit www.octapharma.com.
This news release contains forward-looking statements, which include known and unknown risks, uncertainties and other factors not under the company's control. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. These factors include results of current or pending research and development activities and actions by the FDA or other regulatory authorities.
SOURCE Octapharma AG
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