Crucell Announces Third Quarter 2009 Results
Crucell Announces Third Quarter 2009 Results
Market Wire, November, 2009
Total revenues and other operating income increased by 15% to EUR 94.3 million. Operating profit of EUR 15.5 million versus EUR 9.6 million in Q3 2008. Quarter-end cash and short-term liquidities of EUR 411.9 million. Undiluted EPS of EUR 0.15 for the quarter.
2009 full year guidance reiterated: total revenues and other
operating income expected to grow 20% in constant currencies ;
operating profit for 2009 expected to improve significantly compared
to 2008; strong cash position.
Dutch biopharmaceutical
company Crucell N.V. (Euronext, Nasdaq: CRXL; Swiss Exchange: CRX)
today announced its financial results for the third quarter of 2009,
based on International Financial Reporting Standards (IFRS). These
financial results are unaudited.
Highlights:
* In the third quarter of 2009 total revenues and other operating
income increased by 15% to EUR 94.3 million, compared to EUR 82.1
million in the same quarter of 2008. The increase was driven by a
robust 28% money conversion calculator growth in product sales and in particular growth of
our paediatric and respiratory vaccines.
* In December 2008, Crucell announced the discovery of a new class
of human monoclonal antibodies (mAbs) with the unprecedented
ability to combat a broad range of influenza virus strains[1].
This breadth of protection opens up the new possibility of
developing a universal means of influenza control, solving the
key challenge in influenza prevention and treatment: the ease
with which influenza viruses mutate, leading to new seasonal
strains every year, periodic outbreaks of pandemic strains, and
the emergence of drug-resistant viruses.
* The exciting therapeutic potential of this discovery attracted
the attention of global leaders in healthcare innovation, which,
in September 2009, resulted in a strategic collaboration between
Crucell and Johnson & Johnson (JNJ). This collaboration focuses
on the discovery, development and commercialization of monoclonal
antibodies and vaccines for the treatment and prevention of
influenza and other infectious and non-infectious diseases.
* The agreement with JNJ, with a potential deal value of over EUR 1
billion, also includes an 18% equity investment in Crucell at a
premium of 30% as well as significant milestones over the
development period of the innovation programs. JNJ will hold
commercialization rights for products resulting from the
collaborations in all countries throughout the world with the
exception of the European Union, certain additional European
countries and supranational organizations, where Crucell will
retain commercialization rights
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