First QTR on Monday 9, 2015 after hours, page-30

Looks like 2nd 1/2 of current FY is when the ramp becomes more significant. I think Keith had a conversation with the CFO. His report has the feel of David Hastings input. My opinion only.

Here is some statements from Griffin's update about sales.

"Sanofi and Hikma milestones: The two supply agreements with Sanofi provide for upfront and milestone payments of $15 million (syringes) and $50 million (wearable injectors), and the Hikma contract provides for similar payments amounting to $40 million. Those figures contrast with the disclosed amounts Unilife received in fiscal 2014 and 2015, since the deals were signed with Sanofi paying approximately $5.4 million and Hikma, $5 million."

"Commercialization time lag: There is a lag between the signing of a commercial supply agreement and the first shipments of product to end users in the order of two to three years for drugs already approved by the FDA and/or the EMA. This is due largely to establishing the shelf-life of the drug in the new device so that inventory has ample time to turn over. One exception is a drug that is destined to be combined with Unilife’s Depot-ject via a 10-year deal inked in late 2014. That deal was expected to begin generating sales within 12 to 24 months of its signing."

"Our assessment is based on sales of certain syringes in the Unifill® product line to Sanofi for Lovenox® and to Hikma for various generic injectables that are likely to commence in the second half of this fiscal year (ends June 30, 2016) in preparation for the debut of drug/device combinations in Unilife’s fiscal 2017. The Company has a couple of other agreements that may also begin to contribute in fiscal 2017 as volume orders from Sanofi and Hikma grow. The most likely is a Depot-ject™ supply agreement signed in December 2014 that will be used to deliver a drug already approved by the FDA and EMA. The other is AbbVie’s Humira®, even though a commercial supply agreement has yet to be finalized. Another source of
cash will likely be from the supply of wearable injectors for clinical trials scheduled to commence in late fiscal 2016. Meanwhile, we believe the Company will receive significant milestones from Sanofi and Hikma in the next few months, since both commercial supply agreements include milestones that were designed to help offset the cost of manufacturing equipment. (Unilife is on schedule to complete the installation of three production lines in the December quarter.)"