Photocure (OL:PHO) announced results for Q117 with 9% growth for the Hexvix/Cysview franchise compared to Q116. The US was a major driver, up 32% to NOK10m, though the Nordics fell by 4% to NOK9.7m due to currency and weakness in Denmark. Importantly, the company also recently announced that its Phase III trial in the bladder cancer surveillance market was successful, which should enable it to receive marketing authorisation in that market.
US sales continue to be strong
Sales in the US increased 32% to NOK10.0m driven mainly by volume growth and price increases, though there was also a minor currency headwind. Unit sales increased 28% and six additional units were installed over the quarter, bringing the total installed base to 89. The company is in the process of increasing the size of the US salesforce, which may enable it to maintain the fast pace of growth and take advantage of the recent Phase III data in the surveillance setting.
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