Actelion (ALIOF) Beats Q2 Earnings & Revenues, View Up
Zacks Investment Research | Jul 22, 2016 01:13AM ET
Actelion Ltd. (OTC:ALIOF) reported second-quarter 2016 earnings of $2.13 per American Depository Receipt (ADR), up from the year-ago figure of $1.60. Reported earnings were also above the Zacks Consensus Estimate of $1.86.
Revenues were up 16.1% year over year to $607.7 million, beating the Zacks Consensus Estimate of $589 million.
Quarter in Detail
All growth rates mentioned below are in constant exchange rates and on a year-over-year basis.
Product sales were up 15%. Sales surged 25% in the U.S. driven by the launch of Uptravi, continued momentum in Opsumit and share gains in the endothelin receptor antagonist (ERA) market. Sales in the EU were down 3%, while that in Japan soared 29% on the back of Opsumit, Veletri and Zavesca (Japanese trade name: Brazaves). In the rest of the world, sales were up 10%.
Key growth drivers at Actelion include Opsumit and Tracleer. Opsumit generated revenues of CHF200 million, up 71% driven by continued uptake on the back of commercial availability in over 30 countries.
On the other hand, sales of Tracleer amounted to CHF256 million, down 19%. The decline was due to increasing demand for Opsumit, pricing pressure in the EU and stiff generic competition. On the other hand, Veletri and Valchlor recorded sales growth of a respective 18% and 20%.
Research & development expenses rose 31% to CHF124 million in the reported quarter. Selling, general and administrative expenses were also up 11% to CHF122 million.
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