Actelion reports strong 1st-qtr results, boosted by newer PAH drugs

22 April 2016

Switzerland-based Actelion (SIX: ATLN) reported net income for the first quarter of 2016 was 178 million Swiss francs ($184 million), up 12% from 159 million francs a year ago but below the poll average of 188 million francs.

Core net income was 215 million francs, up 16.2% compared to 185 million francs a year ago. Core earnings per share were 1.98 francs versus 1.61 francs. Net revenue increased 14% to 590 million francs from 515 million francs last year. On a constant exchange rate, revenues grew 11%. Actelion shares were up 4.4% at 158.30 francs by close of trading on Thursday.

Actelion, Europe’s largest biotech firm, provided a 2016 financial guidance upgrade, saying it expects high single-digit percentage core operating income growth, at constant exchange rates (CER) and barring unforeseen events. This compares with a prior estimate of a low-single-digit growth.

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