Basilea revises Toctino® revenue guidance while expecting better operating result 2011
(Thomson Reuters ONE) -
Basilea Pharmaceutica AG /
Basilea revises Toctino® revenue guidance while expecting better operating
result 2011
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Basel, Switzerland, June 20, 2011 - Basilea Pharmaceutica Ltd. (SIX:BSLN) today
announced revised guidance for 2011. The company anticipates a better operating
result for 2011 than expected due to lower operating expenses impacted by the
strong Swiss Franc. This positive effect is partially offset by a lower than
anticipated revenue growth in Swiss Francs from its hand eczema drug Toctino®
this year.
While significant volume growth of Toctino® is observed in all the European
markets and Canada where the drug is marketed, the strength of the Swiss Franc
versus the Euro and other currencies has had a significant impact on sales
recognized in Swiss Francs. In addition, continued austerity measures in Europe
are impacting Toctino® revenues. The company therefore revises its annual sales
guidance for Toctino® from around CHF 40 million to CHF 32 - 34 million for the
year 2011.
The strength of the Swiss Franc is positively impacting operating expenses in
2011 which are largely incurred in other currencies. Overall, Basilea improves
its guidance on anticipated average operating loss in 2011 from CHF 8 million
per month to approximately CHF 7 million per month.
"We continue to see significant volume growth of Toctino with strong
contributions from established markets such as Germany. However, currency
movements thus far have negatively impacted our recognized sales reported in
Swiss Francs. Despite the clear recognition of the clinical benefit of Toctino
by patients and physicians and the favorable pharmaco-economic assessment by
national health organizations, national healthcare budget allocations and
reimbursement for this innovative medicine in additional countries has been
slower than anticipated," indicated Hans Christian Rohde, Chief Commercial
Officer of Basilea Pharmaceutica Ltd. "We are actively addressing the changes in
the healthcare environment by adapting our commercial approach. Toctino is a
very effective drug addressing a high medical need and we continue to see the
potential of this unique drug."
As previously announced, Basilea will report the detailed financial results for
the first half-year on August 18, 2011.
Chronic hand eczema - a debilitating skin disease
Hand eczema is a common inflammatory skin disease and is often chronic and
relapsing. Hand eczema is reported to affect up to ten percent of the general
population. The more severe, chronic form of the condition is thought to affect
five to seven percent of these patients, causing impaired use of their hands and
a considerable impact on their ability to perform everyday activities.
Toctino® (alitretinoin) - the only therapy approved for severe chronic hand
eczema (CHE) unresponsive to potent topical treatments
Toctino® was developed by Basilea Pharmaceutica International Ltd. and is
approved in many European countries, Canada and Israel for the treatment of
severe CHE. Since its launch it has been included in CHE treatment guidelines in
Canada, France, Germany and Italy. The therapeutic value of Toctino® under daily
practice conditions has been confirmed. For example the TOCCATA study, a 680-
patient prospective non-interventional study run in Germany, reported high
efficacy rates, excellent patient compliance and a safety profile consistent
with the approved label.
Conference call
Basilea Pharmaceutica Ltd. invites you to participate in a conference call on
Monday, June 20, 2011, 4 p.m. (CEST), during which the company will discuss
today's press release.
Dial-in numbers are:
+41 (0) 91 610 56 00 (Europe and ROW)
+1 (1) 866 291 4166 (USA)
+44 (0) 203 059 5862 (UK)
A playback will be available 1 hour after the conference call until Wednesday,
June 22, 2011, 6 p.m. (CEST). Participants requesting a digital playback may
dial:
+41 (0) 91 612 4330 (Europe and ROW)
+1 (1) 866 416 2558 (USA)
+44 (0) 207 108 6233 (UK)
and will be asked to enter the ID 12358 followed by the # sign.
About Basilea
Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland, and listed on
the SIX Swiss Exchange (SIX:BSLN). Its fully integrated research and development
operations are focused on antibiotics, antifungals and oncology drugs, as well
as on the development of dermatology drugs, targeting the medical challenge of
resistance and non-response to current treatment options in the hospital and
specialty care setting.
Basilea is currently marketing Toctino® (alitretinoin), the only approved
treatment for severe chronic hand eczema unresponsive to potent topical
corticosteroids, in Denmark, Finland, France, Germany, Norway, Switzerland and
the United Kingdom and has appointed distributors for Toctino® in other selected
European markets, Canada, Israel and Mexico. Furthermore, a phase III clinical
program on alitretinoin for the treatment of severe chronic hand eczema is
ongoing in the U.S. For its phase III compound isavuconazole, a potential best-
in-class azole antifungal for the treatment of life-threatening invasive fungal
infections, the company has entered into a license, co-development and co-
promotion agreement with Astellas Pharma Inc. In addition, Basilea is developing
ceftobiprole, a late-stage novel anti-MRSA broad-spectrum cephalosporin
antibiotic, for the first-line treatment of potentially life-threatening
resistant bacterial infections. Ceftobiprole has a broad coverage of both Gram-
positive bacteria, including methicillin-resistant Staphylococcus aureus (MRSA),
and many clinically important Gram-negative bacteria such as Pseudomonas spp.
Disclaimer
This communication expressly or implicitly contains certain forward-looking
statements concerning Basilea Pharmaceutica Ltd. and its business. Such
statements involve certain known and unknown risks, uncertainties and other
factors, which could cause the actual results, financial condition, performance
or achievements of Basilea Pharmaceutica Ltd. to be materially different from
any future results, performance or achievements expressed or implied by such
forward-looking statements. Basilea Pharmaceutica Ltd. is providing this
communication as of this date and does not undertake to update any forward-
looking statements contained herein as a result of new information, future
events or otherwise.
For further information, please contact:
+-----------------------------+--------------------------------+
| Media Relations | Investor Relations |
+-----------------------------+--------------------------------+
| Peer Nils Schröder, Ph.D. | Barbara Zink, Ph.D., MBA |
| Head Public Relations & | Head Corporate Development |
| Corporate Communications | |
| +41 61 606 1102 | +41 61 606 1233 |
| media_relations(at)basilea.com | investor_relations(at)basilea.com |
+-----------------------------+--------------------------------+
This press release can be downloaded from www.basilea.com.
--- End of Message ---
Basilea Pharmaceutica AG
Grenzacherstrasse 487
P.O Box Basel Switzerland
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München;
Press release (PDF):
http://hugin.info/134390/R/1524472/460280.pdf
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Source: Basilea Pharmaceutica AG via Thomson Reuters ONE
[HUG#1524472]
Unternehmensinformation / Kurzprofil:
Datum: 20.06.2011 - 07:15 Uhr
Sprache: Deutsch
News-ID 55670
Anzahl Zeichen: 8986
contact information:
Town:
Basel
Kategorie:
Business News
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