Strong first half 2016 performance from Actelion

Switzerland’s Actelion (SIX: ATLN) as reported first-half 2016 financial results, with net revenue rising 17% (+13% at constant exchange rates) to 1.18 billion Swiss francs ($1.20 billion).

Net income for the six months came in at 361 million francs, up 25% (+17% cer), with diluted net earnings per share of 3.32 francs rising 33% (+23% cer). Core net income was 440 million francs, a rise of 23% (+16% cer) and core EPS at 4.05 francs, up 30% (+23% cer), said Actelion, Europe’s largest biotech firm.

"We have had an excellent first half year, mainly driven by the strong performance of both Opsumit and Uptravi. We have also made significant progress with our development pipeline by initiating a Phase III long-term study with macitentan for the treatment of children with PAH [pulmonary arterial hypertension] and a Phase II program with our new dual orexin receptor antagonist. All in all, the transformation of the company is well underway and I am very pleased with our achievements. What's more, I am confident that we can sustain this momentum moving forward," stated chief executive Jean-Paul Clozel.