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Unilife Corporation Announces Financial Results For Fiscal Year 2013 Fourth Quarter
Date:9/10/2013

YORK, Pa., Sept. 10, 2013 /PRNewswire/ -- Unilife Corporation ("Unilife" or "Company") (NASDAQ: UNIS; ASX: UNS), a developer and supplier of injectable drug delivery systems, today announced its financial results for the quarter ended June 30, 2013, (the fourth quarter of Fiscal Year 2013).

Recent Highlights

  • Unilife signed a long-term supply contract with Sanofi to supply the Unifill Finesse™, a customized device from its Unifill platform of prefilled syringes, for use with the anti-thrombotic therapy Enoxaparin Sodium sold under the brand names Lovenox® and Clexane® ("Lovenox"). Unilife has granted Sanofi the exclusive use of the Unifill Finesse with anti-thrombotic drugs during the contract period, which can extend to 2024. Following a four year ramp-up period after market entry, exclusivity will be maintained, subject to Sanofi purchasing a minimum of 150 million units of the Unifill Finesse or other Unifill syringes per year. In addition to future revenue from the sale of Unifill Finesse syringes, Unilife may receive up to $15 million from Sanofi in milestone based payments with $5 million of these payments expected in 2013.
  • "The major supply contract with Sanofi that we announced this week for our flagship platform of Unifill syringes will establish Unilife as one of the leading suppliers of prefilled syringes in the industry," stated Mr. Alan Shortall, CEO of Unilife. "In addition to the Sanofi supply contract, we are equally as enthusiastic about many other major large-scale contracts that are now being finalized.  Several of these upcoming contracts will generate upfront and recurring revenue.  We expect these current and upcoming contracts will generate cash that will substantially offset our cash burn rate for this fiscal year. As many of these agreements have terms between five and fifteen years in len
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