Vistin Pharma ASA : Strong first quarter 2016 and bright outlook
(Thomson Reuters ONE) -
Oslo, Norway, 28 April 2016
Norwegian pharmaceutical company Vistin Pharma ASA (OSE: VISTIN) recorded its
highest ever revenue from its main metformin business in the first quarter of
2016. Together with strong growth in opioids and a stable, profitable contract
manufacturing business, Vistin Pharma recorded another solid quarter.
"Our growth story continues, and I am pleased to report on solid performance
within all three business segments. Demand for our metformin products continues
to exceed our current production capacity. Higher sales of codeine tablets led
to a 46 per cent growth within our opioids business, while our CMO business
continues to perform according to plan", says CEO Kjell-Erik Nordby.
Vistin Pharma recorded revenue of NOK 103.2 million in the first quarter.
Reported EBITDA was NOK 11.0 million, while the net profit came in at NOK 6.6
million.
With solid, long-term potential in all three business segments, Vistin Pharma's
ambition is to grow the Company significantly.
"The metformin business is experiencing growing demand owing to overall market
developments. Long-term drivers for the opioid market also indicate an
attractive future growth potential, and the outlook for our CMO business is
promising. Our strategy is to grow our business significantly going forward,
through investments in internal capacity expansion, completion of an operational
excellence program, and through potential M&A opportunities. I see a bright
future for Vistin Pharma", says Nordby.
Vistin Pharma will give a presentation today at 08:30 CET at Felix
Konferansesenter, Bryggetorget 3, Oslo, Norway. CEO Kjell-Erik Nordby and CFO
Gunnar Manum will represent the company. The presentation will be held in
English.
The presentation will be webcast live and can be accessed directly from
http://webtv.hegnar.no/presentation.php?webcastId=33048918
or http://www.vistin.com/investors/webcast-article214-455.html.
Please find the report and presentation for the first quarter 2016 enclosed. The
report and presentation will also be made available on www.vistin.com.
For further information, please contact:
Kjell-Erik Nordby
CEO
+47 91 36 42 80
kjell-erik.nordby(at)vistin.com
Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum(at)vistin.com
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Note: Vistin Pharma ASA was established in February 2015, and the Group had no
operating activities prior to Vistin Pharma AS' acquisition of the B2B business
and tablet production assets from Weifa AS on 1 June 2015.
About Vistin Pharma
Vistin Pharma is a Norwegian pharmaceutical company producing Active
Pharmaceutical Ingredients (APIs) and solid dosage forms for the global
pharmaceutical industry. The company has key positions in the Metformin and
Opioids markets, and a strong foundation for creating a highly efficient
Contract Manufacturing tablet production (CMO) business. Solid growth
potentials exist in all the business segments.
With more than 65 years of pharmaceutical industry experience, Vistin Pharma has
built significant capacity and expertise as an API provider. The Company has
more than 140 highly qualified employees and two manufacturing facilities in
Kragerø, Norway. Both facilities are certified according to current Good
Manufacturing Practice (cGMP) and successfully inspected by the US Food and Drug
Administration (FDA) in 2014. Vistin Pharma's headquarter is in Oslo, Norway.
Vistin Pharma ASA first quarter report 2016:
http://hugin.info/168869/R/2007462/742160.pdf
Vistin Pharma ASA first quarter presentation 2016:
http://hugin.info/168869/R/2007462/742162.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vistin Pharma ASA via GlobeNewswire
[HUG#2007462]
Datum: 28.04.2016 - 07:00 Uhr
Sprache: Deutsch
News-ID 467074
Anzahl Zeichen: 4766
contact information:
Town:
Oslo
Kategorie:
Business News
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