record fondaparinux quarterly

20 August 2013
Record Fondaparinux Quarterly Profit Share
? A$3.9m profit share for quarter ending 30 June 2013
? Total Alchemia fondaparinux profit share of A$9.6m for FY 2013
? Fondaparinux approved in Canada; launch expected soon
Brisbane, Australia 20 August 2013 – Australian drug discovery and development company Alchemia Limited (ASX:ACL) reports a record quarterly profit share of A$3.9 million (US$3.5 million) on sales of its generic anti-coagulant drug fondaparinux for the quarter ending 30 June 2013. This notable outcome is the most successful quarterly sales result since the product was launched in 2011.

International marketing partner, Dr Reddy’s Laboratories Ltd (Dr Reddy’s), recorded net quarterly US fondaparinux sales of US$12.2 million in the quarter ending 30 June 2013. Under the terms of its collaboration, development and marketing agreement with Dr Reddy’s, Alchemia will receive A$3.3 million (US$3.0 million). This payment is net of Alchemia’s ongoing contribution of A$0.6 million (US$0.5 million) towards yield and cost of goods improvement activities as previously announced on 24 September 2012.

For the 2013 financial year, Alchemia will receive a total net profit share of A$9.6 million (US$9.5 million) from fondaparinux sales.

“We are delighted to report a record quarter of fondaparinux profit share for Alchemia” said Alchemia’s CEO, Charles Walker. “Sales volumes have recovered from those seen in the previous quarter and specifically for this quarter, net pricing has been stronger than expected. These results build on our positive news flow over recent months with announcements of collaborations with two world leading pharmaceutical companies, AstraZeneca and Merck Serono. We believe that Alchemia is optimally positioned to capitalize on opportunities across all of our business lines going forward.”

In other developments, Dr Reddy’s has achieved regulatory approval to market fondaparinux in Canada. Total sales for fondaparinux in Canada for the year ending December 31 2012 were US$2.9million (Source: IMS MAT Dec 12). Alchemia’s generic version of fondaparinux is expected to be launched in the region in the next few months. This follows its launch in India in April, which was the first territory outside the United States approved to market the product.
A short video interview discussing these record results will be posted on our website (www.alchemia.com.au) and on LinkedIn (www.linkedin.com/company/alchemia-limited).