”Camurus continued to deliver strong results in the fourth quarter with increasing market shares for Buvidal, expansion into new markets, and advances in the R&D pipeline”

Fourth quarter summary

• Total revenues of SEK 106 M (35), an increase of 201% (SEK 112 M and 213% at CER¹)
• Net product sales were SEK 104 M (30), an increase of 243% (SEK 110 M and 256% at CER¹)
• Product sales grew by 10% in the quarter (while the in-market sales growth of Buvidal^® was 33%)
• More than 15,000 (4,000) patients estimated in treatment with Buvidal at year end
• Approval of Market Authorization Application (MAA) for Buvidal in Switzerland
• MAAs submitted for Buvidal in Saudi Arabia, Kuwait and United Arab Emirates
• Priority Review status granted for Buvidal MAA in Saudi Arabia
• Braeburn received Complete Response Letter (CRL) from FDA for Brixadi™ in the US
• Announcement of ruling from arbitration process with Braeburn
• First patient dosed in Phase 2 study of CAM2043 in Raynaud’s phenomenon
• First patient dosed in Phase 1 clinical study of the CAM2029 autoinjector

Full year 2020

• Total net revenue of SEK 336 (106) M, an increase of 218% (SEK 351 M and 227% at CER¹)
• Net product sales were SEK 323 (72) M, an increase of 347% (SEK 337 M and 362% at CER¹)
• The operating result was SEK -205 (-360) M, an improvement of 43%

Financial outlook 2021

• Net revenues²: SEK 680 – 750 M
  whereof product sales: SEK 620 – 680 M
• Operating result²: SEK -120 – 0 M

¹ At constant exchange rates December 2019

² Excluding milestone payments relating to Brixadi™ in the US

CEO statement
Camurus continued to deliver strong results in the fourth quarter of 2020. Net sales increased by 201%, and product sales by 243% compared to Q4 2019. The expansion of the Buvidal market continued with price and reimbursement approvals in Spain, regulatory approval in Switzerland, regulatory approval applications in Kuwait, the UAE and Saudi Arabia, while at the end of the quarter, the anticipated approval of Brixadi in the US was delayed when Braeburn received a Complete Response Letter from the FDA. Our product development for other chronic conditions intensified, with Phase 3 programs for CAM2029 in acromegaly and neuroendocrine tumors advancing according to plan, and the initiation of treatment of patients in new clinical studies of CAM2029 and CAM2043.

Fredrik Tiberg
President and CEO

 

For more information:
Fredrik Tiberg
President and CEO
Tel. +46 (0)46 286 46 92
fredrik.tiberg@camurus.com   

Fredrik Joabsson
Chief Business Development Officer
Tel. +46 (0)70 776 17 37
ir@camurus.com

This information is information that Camurus AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the chief executive officer, 7:00 AM (CET) on 11 February 2021.