Biogened forecasts 43% sales growth in 2012

2012-01-23



Biogened, a NewConnect-listed maker of Rx and OTC drugs, dietary supplements and dermocosmetics, expects to generate sales revenues of PLN 35.4m (€8.2m) this year, the company said in a statement to the stock exchange. This would represent an increase of 42.7% compared with its estimated result for 2011. At the same time, net profit is forecast to surge to PLN 2.2m (€0.5m) in 2012 from just PLN 0.04m (€0.01m) last year.
The forecast is premised on the following key assumptions: higher spending on marketing activities to promote the company’s dietary supplements and dermocosmetics, and the launch of new medicines for central nervous system disorders. At the same time, the implementation of the new Reimbursement Act is a major risk factor, Biogened noted.
In an earlier regulatory filing this month, Biogened said that several of its products were yet to be placed on the new reimbursement list even despite the completion of price negotiations, and that frequent changes and uncertainty over reimbursement lists following the coming into force of the Reimbursement Act was making wholesalers and pharmacies wary to purchase medicines and raises the threat of product returns. Biogened expects however that these problems will be more than compensated for by its exposure to dietary supplements and dermocosmetics and new product launches.