PARIS--(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, announces today 2023 gross sales1 of €4.4 million, up 20% compared to the previous year (2022: €3,7 million).
In 2023, in line with the Company's strategic plan, most of the growth in gross sales came from Sibnayal, its lead product. These are up 84% in volume over the full year compared with 2022. In value terms, Sibnayal® gross sales rose by 40% over the same period to €1.94 million (vs. €1.39 million in 2022). The difference between growth in value and volume is largely due the growing portion of total sales generated by the commercial partnerships outside France and the transfer prices' structure.
Gross sales of Likozam® and Levidcen® reached €1.87 and €0.62 million respectively. Overall, gross sales for the Neurology franchise (Likozam® and Levidcen®) rose by more than 8% over the period.
Gross sales (€ millions) | 2023 | 2022 | Growth |
Sibnayal® | 1.94 | 1.39 | +40% |
Neurology of which Likozam® of which Levidcen® | 2.49 1.87 0.62 | 2.31 1.70 0.60 | +8% +10% +3% |
Total | 4.43 | 3.69 | +20% |
Didier Laurens, Chief Executive Officer of Advicenne, commented: "The year 2023 marked the start of Advicenne's commercial roll-out. Despite a regulatory environment that remains complex in terms of pricing and reimbursement, we are particularly satisfied with the progress of Sibnayal® sales. This is particularly the case in France, where the deployment of a sales force has led to a record acceleration in sales over several consecutive months. On the other hand, the situation is more mixed in the United Kingdom, which has been penalized by a pharmaceutical market difficult environment. At the same time, our partnerships in other European countries and in the Middle East are continuing to be set up, with good performances recorded in certain zones. We remain as focused as ever on our mission to meet unmet medical needs in rare diseases, with treatments that improve the daily lives of patients and their families".
Achievements and commercial prospects for Sibnayal® in Europe:
- 2023 saw the first commercial deployments in France and the UK. In France, we have observed a favorable trend since the middle of the second half of 2023, with a steady increase in the number of hospitals delivered. In 2024, this trend should accelerate with the strengthening of Advicenne's sales organization. In the United Kingdom, despite several hospital contracts signed, 2023 was less dynamic than expected. The difficulties of the NHS and the multiple strikes in the British health service penalized this market.
- In the rest of Europe, all partners, including the most recently signed, are now recording sales in their respective geographic zones, particularly in Germany, Denmark, and certain Eastern European countries. The first sales have also been recorded in the Middle East, thanks to the implementation of early access programs.
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 its Marketing Approval for distal renal tubular acidosis in EU and GB. ADV7103 is currently in late-stage development in cystinuria in Europe and in dRTA and cystinuria in the US and in 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 2022 Universal Registration Document filed with the French financial market authority on April 28, 2023 (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.
Contacts
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: barabian@ulysse-communication.com
