Vifor Pharma with strong first half financial results

Vifor Pharma has posted strong net sales in the first half of 2017, driven by its three medium-term strategic growth drivers. It had net net profit after minorities of CHF1,094 M, ($1,124M)in the first half, compared to the same period last year of CHF158.9.

As a result of the strong H1 2017 financial performance the company is raising its net sales and EBITDA guidance for 2017 and confirming the positive outlook. The company said it plans to invest approximately CHF 850 million in projects to develop and launch new products over the next three years.

Vifor Pharma Group net sales for the first half of 2017 grew to CHF 625.7 million, a strong increase of 13.6% versus the prior year or 14.1% on a constant currency basis. Reported EBITDA in H1 2017 decreased to CHF 132.9 million compared to CHF 209.9 million in the prior year. However, excluding the costs to support the launch and ramp-up of Veltassa of CHF 119.4 million, EBITDA increased by 20.2% versus the prior year to CHF 252.3 million. This increase was due to the strong growth in sales combined with cost containment.