Advicenne Announces an 8.8% Increase in Gross Sales for H1 2024 and Provides an Update on Its Activities
18 Julio 2024 - 11:30AM
Business Wire
Regulatory News:
Advicenne (Euronext Growth Paris ALDVI - FR0013296746), a
specialty pharmaceutical company dedicated to the development and
commercialization of innovative treatments for those suffering from
rare renal diseases, today announced that gross sales1 for the
first half of 2024 totaled 2.4 million euros, up 8.8% over the same
period last year. Gross sales do not include royalties receivable
from partners for the first half.
In line with the Company's strategic plan, sales growth was
sustainably driven mainly by Sibnayal® sales. The latter posted
gross sales of 1.1 million euros, up 12.9% for the first six months
of the year compared with the first half of 2023. In France,
performance was solid, reflecting the strengthening of the sales
and marketing team. In other European countries, Sibnayal® recorded
several successes, but continued to be penalized by difficulties in
gaining access to reimbursement. In addition, inventory effects in
the first half of 2023 significantly limited growth in H1 2024.
Likozam® and Levidcen® recorded sales of 1.0 and 0.3 million euros
respectively.
Gross sales (m€)
H1 2024
H1 2023
Growth
Sibnayal®
1,08
0,96
+12,9%
Neurology
of which Likozam®
of which Levidcen®
1,33
0,99
0,34
1,26
0,93
0,33
+5,5%
+6,5%
+3%
Total
2,42
2,22
+8,8%
In the latest discussions between Advicenne and Primex
International AG during this period, it became apparent that Primex
is not in a position to honor all the commitments made in the
contract signed in 2016 concerning the payment of royalties in
2025. In order to protect its interests, Advicenne is continuing
discussions with Primex and hopes to reach a final agreement by the
end of the year.
Finally, following the granting of orphan drug status for
ADV7103 in cystinuria in April 2024 and an initial round of
exchanges with the FDA on the basis of European clinical data in
distal renal tubular acidosis, Advicenne is continuing its work
over the summer to clarify the regulatory pathway for ADV7103 in
the US in these indications. To this end, Advicenne enjoys the
support of several key opinion leaders, both American and European,
as well as patient associations.
At the date of this press release, the Company's cash flow
horizon is Q1 2025.
ABOUT ADVICENNE
Advicenne (Euronext: ALDVI) is a specialty pharmaceutical
company founded in 2007, specializing in the development of
innovative treatments in Nephrology. Its lead product Sibnayal® has
received Marketing Approval for distal renal tubular acidosis
(dRTA) in EU and GB. ADV7103 is currently in late-stage development
in cystinuria in Europe and in dRTA and cystinuria in the US and
Canada. Headquartered in Paris, Advicenne, listed on the Euronext
Paris stock exchange since 2017, has now been listed on Euronext
Growth Paris since its transfer on March 30, 2022. For additional
information, see: https://advicenne.com/.
Disclaimer This press release contains certain
forward-looking statements concerning Advicenne group and its
business, including its prospects and product candidate
development. Such forward-looking statements are based on
assumptions that Advicenne considers to be reasonable. However,
there can be no assurance that the estimates contained in such
forward-looking statements will be verified, which estimates are
subject to numerous risks including the risks set forth in the 2023
Universal Registration Document filed with the French financial
market authority on April 5, 2024 (a copy of which is available on
www.advicenne.com) and to the development of economic conditions,
financial markets and the markets in which Advicenne operates. The
forward-looking statements contained in this press release are also
subject to risks not yet known to Advicenne or not currently
considered material by Advicenne. The occurrence of all or part of
such risks could cause actual results, financial conditions,
performance, or achievements of Advicenne to be materially
different from such forward-looking statements. Advicenne expressly
declines any obligation to update such forward-looking
statements.
___________________________ 1 Gross sales represent the
gross amount invoiced to customers for the quantities of products
delivered during the year. In countries where the price or
reimbursement terms have not yet been set by the authorities,
annual sales correspond to gross sales less taxes and rebates set
by the regulatory authorities. These taxes and rebates are recorded
on the basis of the company's best estimates, or the assessments
received from the authorities.
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Advicenne Didier Laurens, CEO +33 (0)1 87 44 40 17 Email
: investors@advicenne.com
Ulysse Communication Media relations Bruno Arabian +33
(0)6 87 88 47 26 Email : advicenne@ulysse-communication.com