LUND, Sweden, June 23, 2020 /PRNewswire/ -- Camurus today announced revised full year 2020 guidance for the company's revenue and product sales. Camurus' guidance for net revenue is increased to SEK 340-380 million from SEK 290-330 million with estimated product sales of SEK 310-340 million, previously SEK 240-280 million. The improvements are driven by increasing market shares of Buvidal® for treatment of opioid dependence in Europe and Australia.
Operating expenses are expected amount to SEK 570-610 million, as communicated previously (including a provision for legal costs for the recently initiated arbitration process in England).
"After stronger than expected sales of Buvidal during the first half of 2020, we are raising our revenue and product sales guidance and are expecting a corresponding improvement of the full year results," said Fredrik Tiberg, President & CEO of Camurus. "The Covid-19 pandemic has had both positive and negative impact on the business. It has been a catalyst for uptake in clinics with experience of Buvidal, however, has also limited access to healthcare professionals and delayed the treatment initiation of new patients and switching of patients to Buvidal in some markets."
Detailed financial information for the first half of 2020 will be provided in Camurus' half-year report 16 July 2020.
Camurus is a Swedish, science-led biopharmaceutical company committed to developing and commercializing innovative, long-acting medicines for the treatment of severe and chronic conditions. New drug products with best-in-class potential are conceived based on the company's proprietary FluidCrystal® drug delivery technologies and its extensive R&D expertise. Camurus' clinical pipeline includes products for the treatment of cancer, endocrine diseases, pain and addiction, which are developed in-house and in collaboration with international pharmaceutical companies. The company's shares are listed on Nasdaq Stockholm under the ticker CAMX. For more information, visit camurus.com.
For more information
Fredrik Tiberg, President & CEO
Tel. +46 (0)46 286 46 92
Fredrik Joabsson, Chief Business Development Officer
Tel. +46 (0)70 776 17 37
This is information is information that Camurus AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the managing director, at 4:15 pm CET on 23 June 2020.
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SOURCE Camurus AB