EQS-News: APONTIS PHARMA presents details of the restructuring and efficiency program – Nine-month figures for 2023 and new sales and earnings forecast for 2023 published
EQS-News: APONTIS PHARMA AG
/ Key word(s): Quarterly / Interim Statement/9 Month figures
APONTIS PHARMA presents details of the restructuring and efficiency program – Nine-month figures for 2023 and new sales and earnings forecast for 2023 published
In the future, the development of the portfolio will be driven by targeted campaigns for specific, high-growth Single Pills. It will focus less on promoting the underlying umbrella concept of Single Pills. The sales force will focus on physicians with high prescription potential, which will be supported by significantly improved potential analysis and practical activity planning tools. The market changes resulting from the pandemic also led to a permanent loss of 20% of sales force contacts at APONTIS PHARMA. Because the size of the target audience was not adjusted, this primarily reduced the frequency of meetings per physician. By taking the new approach, more target customers can be reached with an effective number of 8-16 contacts per year via personal and digital channels, despite a significant reduction in the strength of the field sales staff. In conjunction with the new focus of the sales force, the data situation for identifying practices with high potential is also being improved. Alternative approaches to supporting communication are available but have not been given sufficient consideration to date, as the majority of the budget available has had to be spent on covering sales force costs. Here, the new marketing and sales model offers greater flexibility to align with market requirements. In addition, the partnership activities with health insurance companies that are already successful will be intensified, as will cooperation with specialist associations and medical quality circles to improve the implementation of guideline-based therapy with Single Pill combinations. The measures are planned across all divisions and supplemented by targeted multi-channel measures to increase the number of contacts further. The realignment of the marketing and sales concept will be accompanied by a new appointment to the management team in sales, marketing, and medicine as of 1 November 2023. Overall, the Executive Board expects the implementation of the restructuring and efficiency program to result in savings of between EUR 6.0 million and EUR 7.0 million over a full year, which will be offset by non-recurring restructuring expenses of between EUR 5.0 million and EUR 8.0 million in fiscal year 2023. APONTIS PHARMA will also continue to invest in new Single Pills combinations. In addition to the Single Pills Rosazimib and RosuAmlo launched in the third quarter, two more Single Pills will be launched in the fourth quarter of 2023. The Company plans to launch at least four new Single Pills in 2024. APONTIS PHARMA assumes that the fundamental strategic positioning of Single Pills fulfills all the prerequisites for sustained profitable growth given the outstanding medical evidence, the strengthening of Single Pills in the relevant European and German guidelines, and the active support of the Single Pill concept by statutory health insurance funds for the first time. APONTIS PHARMA recorded a 37.1% decline in total sales to EUR 27.1 million in the first nine months of 2023 (9M 2022: EUR 43.1 million). Single Pill revenue declined by 34.6% to EUR 17.9 million (9M 2022: EUR 27.3 million). The supply bottlenecks of the contracted manufacturer for Atorimib continued. Revenue of Atorimib declined by EUR 8.4 million to EUR 5.9 million. Tonotec HCT recorded stronger demand by posting 36% growth. Tonotec Lipid and RosuASS, the Single Pills launched in 2022, achieved strong growth rates. In the cooperation business, sales revenue fell to EUR 7.8 million as expected (9M 2022: EUR 14.0 million) as a result of the scheduled termination of co-marketing for Jalra/Icandra in the previous year (EUR 6.1 million).
Note: The figures for the nine-month period of 2023 are unaudited. Rounding differences may result. The negative cash flow from operating activities of EUR 13.4 million (9M 2022: cash inflow of EUR 6.7 million) resulted, in particular, from the negative earnings performance and the increase in working capital. The equity ratio was 70.2% as of 30 September 2023 (31 December 2022: 69.4%), with cash and cash equivalents of EUR 21.2 million (31 December 2022: EUR 36.3 million). New forecast for 2023 Based on the current course of business, the Executive Board now expects sales of EUR 36.1 million and EBITDA before restructuring charges of EUR -8.6 million for 2023 as a whole. Non-recurring restructuring expenses are expected to be between EUR 5.0 million and EUR 8.0 million in fiscal year 2023. The forecast for 2023 takes into account the challenges of the current fiscal year, such as the tenders for Atorimib and Caramlo, the supply bottlenecks for Atorimib, and the effects of the cooperation agreement with Novartis for Jalra and Icandra, which expired last year. These negative effects could not be compensated for with the current structure. With our far-reaching approach to restructuring, we are tackling the problems we have identified at many levels and, at the same time, can benefit from a market that remains attractive. Despite the aforementioned challenges, APONTIS PHARMA is very well positioned to benefit from increasing demand on the market and is financially sound enough to implement the restructuring and efficiency program quickly. We are thus setting the course for sustainable, profitable growth.” CEO Bruno Wohlschlegel, CPO Thomas Milz, and CFO Thomas Zimmermann will explain the results for the first nine months of 2023 in a webcast presentation today, 9 November 2023, at 10:00 CET. The presentation will be held in English. Please register in advance to participate at: APONTIS PHARMA Quarterly Statement 9M – Webcast/Conference Call. The accompanying presentation will also be available on the Company’s website before the start. Information on upcoming events can be found at https://apontis-pharma.de/en/financial-calendar and the latest analyst assessments at https://apontis-pharma.de/en/share-price.
Note: The figures for the nine-month period of 2023 are unaudited. Rounding differences can occur.
Note: The figures as of 30 September 2023 are unaudited. Rounding differences can occur.
Note: The figures for the nine-month period 2023 are unaudited. Rounding differences can occur. APONTIS PHARMA AG is a leading pharmaceutical company specializing in Single Pills in Germany. Single Pills combine two to three generic active ingredients in a single dosage form administered once a day. APONTIS PHARMA develops, promotes, and sells a broad portfolio of Single Pills and other pharmaceutical products, with a special focus on cardiovascular diseases. Since 2013, APONTIS PHARMA has successfully launched several Single Pill products alone for cardiovascular indications such as hypertension, hyperlipidemia, and secondary prevention. With its headquarters in Monheim am Rhein, APONTIS PHARMA is located in one of Europe’s leading pharmaceutical and chemical regions. From here, the company maintains a broad network with research-based pharmaceutical companies and a customer target audience of approx. 25,000 physicians in Germany. For additional information about APONTIS PHARMA, please visit www.apontis-pharma.de. Investor Relations CROSS ALLIANCE communication GmbH
09.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | APONTIS PHARMA AG |
Alfred-Nobel-Str. 10 | |
40789 Monheim | |
Germany | |
E-mail: | [email protected] |
Internet: | https://apontis-pharma.de/ |
ISIN: | DE000A3CMGM5 |
WKN: | A3CMGM |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1768795 |
End of News | EQS News Service |
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1768795 09.11.2023 CET/CEST