Interim Report, 1 January – 30 June 2010
· Consolidated net sales were SEK 36.2 (24.5) m.
· The consolidated loss for the period was SEK -50.3 (-62.9) m.
· Earnings per share for the period were SEK -2.14 (-3.02).
· Cash flow from operating activities was SEK 4.6 (-72.9) m.
· Cash and cash equivalents and investments in securities etc. at the end of the period were SEK 462.7 (210.9) m.
Comments from the CEO
The business highlights of the second quarter were the newly entered licensing agreement on Xerclear™ with GlaxoSmithKline (GSK) and the completion of a successful rights issue.
The newly signed global licensing agreement with GSK enables GSK to launch Xerclear™ as an OTC pharmaceutical on major markets like Europe, Russia, Japan, India, Australia and New Zealand. GSK has a very strong sales organization in OTC pharmaceuticals, and a leadership position in the treatment of labial herpes.
We also completed a rights issue and are thankful for the strong support our shareholders have given us. This shows we have a shared positive view of Medivir and its exciting prospect for the future.
In May, Medivir received the Sweden Bio Award as the best Swedish biotech company of 2009. Receiving this award from our biotech colleagues is an exceptional honor, and something all Medivir’s employees really appreciate.
For more information, please contact
Rein Piir, CFO and VP, Investor Relations: +46 (0)70 853 7292 or +46 (0)8 546 83123.