Net profit of over PLN 9.4 million in Q1 2020, increase in domestic sales by 16% and by 2% in export sales, compared to the same period in 2019.
In the first quarter of 2020, the value of sales revenues amounted to PLN 30.9 million. It included the product sales in Poland, which accounted for PLN 26.8 million, as well as PLN 4.1 million from export sales. The result reflects the increase in sales of inhalational and psychiatric products. A stable 15%-20% increase in sales of Ketrel as well as an increase in sales of Salmex by approx. 10%, due to increased drug purchases are observed as a result of the COVID-19 pandemic.
Maciej Wieczorek, CEO of Celon Pharma S.A.: Unlocking export, as a result of a settlement with GSK, is gaining momentum. We expect further increases in this segment after the start of drug sales on other markets, i.e. in Italy or France. In Poland, we maintain a stable increase in sales of our neuropsychiatric and respiratory drugs. We are also systematically restoring the position of Valzek. At the same time, we are strengthening the organisational efficiency of our marketing and sales activities, including introducing new tools and improving channels of reaching customers throughout Poland.
4 active projects in clinical development – the largest innovative pipeline in Poland
Celon Pharma S.A. has 16 innovative drug projects at various levels of development. Four of them, with the greatest potential for commercialisation, have already entered the clinical phase. The most advanced one – an esketamine-based drug used in the treatment of drug-resistant unipolar depression has confirmed efficacy and good tolerability in the phase II study. The PDE10A inhibitor will soon enter the second clinical phase. Simultaneously, the Company continues the phase I study of the FGFR inhibitor, and the PR40 receptor agonist used in the treatment of metabolic diseases has just entered the clinical development stage.
Maciej Wieczorek, CEO of Celon Pharma S.A.: Our pipeline is well organised, both from the scientific and business perspective. Subsequent projects receive multi-million subsidies, we have concluded important strategic science and business partnerships for the development of viral projects. We are carefully analysing this market, while developing a research infrastructure which is adequate to our plans. The concept of the global commercialisation strategy of our projects remains unchanged, adequate to the market and investment specificity of a particular product.
Completion of the construction of a new Research and Development Center – an important part of the implementation of the development plan for the subsequent months of 2020.
The company has completed most of the finishing works, while purchases of research infrastructure and completion of administrative documentation necessary to start the hand-over of the building and equipment are underway. The Company's preparedness to commence these procedures will depend on the actions of relevant administrative bodies and offices in the coming months. However, the current progress of works pace does not affect the implementation of the Company's strategic research and scientific projects.