Newbury Pharmaceuticals interim report September 2023 – November 2023

Quarter 1, September 2023 – November 2023
· Net revenue was 11 185 (258) tkr.
· EBITDA was -2 734 (-5 442) tkr.
· Operating cash flow was -5 678 (-5 215) tkr.
· Cash position in the end of period was 15 897 (27 393) tkr.
· Licensed products at the end of period were 31 (30).
· Products with distribution rights at the end of the period were 12 (2).
· Products with marketing authorization in the end of the period were 19 (7).
· Products launched in Nordics at end of the period 4 (2).

Significant events during the quarter
· Newbury has signed a 15 MSEK loan agreement with a maturity date of 31 Dec 2024.
· Newbury is strengthening its portfolio with Levodopa/Benserazide.
· Newbury has entered into a partnership with Amarox granting access to 6 registered products.

Significant events after the end of the quarter
· Newbury Pharmaceuticals is strengthening its portfolio with Melatonin Extended Release 2 mg.

A word from the CEO
A major milestone was reached by the end of 2023 with the launch of product number seven on the Scandinavian market. It has been a clear goal to get more products to market, and with these we are well positioned for continued growth.

Another important milestone and record were the Q1 sales. The turnover of 11,2 MSEK in Q1 is 9% higher than the entire previous financial year.

Strong sales in Q1
Compared to previous year, we close this quarter with a growth in sales of staggering +4235% vs same period last year. The growth has been driven by supplies to international business customers and by product launches across the Scandinavian markets.

Scandinavian sales during this quarter have shown very promising progress, and we have achieved a tenfold higher turnover in this quarter compared to previous year.

Sales in Scandinavia have been fuelled by new launches as well as favourable sales of one product where competition was unable to supply the patients. Such opportunities arise when sales operations and supply work closely together.

International sales activities were supported by new orders being shipped during this quarter. New orders have been received, but shipments will take place during second half of 2024.

We are well positioned for continued sales growth due to more products marketed in Scandinavia and recurring orders from international sales. However, the nature of competitive tender sales in Scandinavia and irregular international sales orders, will make the individual quarters fluctuate.

Business development is securing three important deals
We have secured three new partnerships during the last couple of months. Business development is a key value creation driver, and we see the results of being positioned as the local champion with more and more companies looking to partner with us.

During autumn, we were having numerous discussions at conferences like CPhI in Barcelona and Jefferies healthcare conference in London with potential partners looking to either out-license products or searching for local distribution partners. Such discussions are a clear signal that we offer an attractive platform for potential partners, and we will pursue to expand our partnering network with additional strategic partnerships. This will entail both more products from existing partners and adding new strategic partnerships which fit our go-to-market model. 

Very pleased with Q1 results
We remain committed to achieving solid sales from the launches in Scandinavia while at the same time to grasp international sales opportunities. Furthermore, we have more products planned for launches during the next 12-18 months and we continue to identify new strategic partnerships adding value to our business. The momentum is strong, and we are pleased with the Q1 results and the foundation from which we continue to accelerate the business

The report is publised on Newbury Pharmaceuticals website:
https://www.newburypharma.com/investors/financial-information/