DOW JONES NEWSWIRES
Medivir AB (MVIR-B.SK), the Swedish pharmaceutical company,
Wednesday announced a second quarter net profit of SEK167.4
million, from a loss of SEK24.1 million, as the quarter benefited
from a one-off payment for certain rights to cold sore treatment
Xerclear of SEK279.8 million from a renegotiated agreement with
Swedish peer Meda AB (MEDA-A.SK).
MAIN FACTS:
-Sales SEK322.9 million, from SEK14.1 million.
-Operating profit SEK165.6 million, from a loss of SEK24.8
million.
-CEO Ron Long says: "We're looking forward to the second half of
2011. We expect to be able to report further results from several
clinical studies that may continue to confirm the potential of
TMC435 and indicate further advances towards our goal of becoming
an integrated and profitable specialty pharmaceutical company
focusing on infectious diseases."
-"Medivir is continuing to make major advances in its hepatitis
C portfolio. Our leading CD (candidate drug), the next-generation
protease inhibitor TMC435, which is under development in
partnership with Johnson & Johnson (JNJ) subsidiary Tibotec
Pharmaceuticals, has continued to achieve very positive
results."
-"TMC435 has potential to be a cornerstone of forthcoming
combination therapies."
-"Medivir has retained the existing global rights to Xerclear
outside the US, Canada and Mexico. We will continue to exploit
these market opportunities via various partners."
-At 0933 GMT shares traded 8.2% higher at SEK99.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093;
dominic.chopping@dowjones.com
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