Du är här

2015-08-26

Vistin Pharma ASA : Second quarter and first half 2015 results

Oslo, 26 August 2015

Vistin Pharma ASA (OSE: VISTIN) reports its first quarterly result as a
separate listed company, after the spin-off and acquisition of Weifa ASA's
B2B business and tablet production assets. The company was listed on Oslo
Axess on 10 June 2015.

Vistin Pharma is a Norwegian pharmaceutical company producing Active
Pharmaceutical Ingredients (APIs) and solid dosage forms for the global
pharmaceutical industry. The company has key positions and growth potential
in the international Metformin and Opioid markets, and a strong foundation
for creating a highly efficient CMO business (contract manufacturing of
tablets). For Vistin Pharma, the split facilitates new growth opportunities
due to a narrower business scope, increased visibility and being less exposed
to the risk of strategic compromises across business units.

Key highlights for the second quarter 2015:

* The company raised NOK 170 million in new equity through a rights issue to
fund the acquisition of the Weifa assets and to secure working capital
* A five-year manufacturing agreement was signed with Weifa for the
production of all tablets previously produced in-house by Weifa, including
an option to extend the agreement for two-year periods
* Strong demand for metformin from new and existing clients
* Maintained opioid volumes and prices despite a continued softening of the
market
* Successful transfer of tablet manufacturing operations in the CMO segment

Vistin Pharma had total revenues of NOK 31.4 million in the reporting period
from 1 June to 30 June 2015. EBITDA came to NOK 2.9 million, including
one-off costs of about NOK 1 million relating to the listing of Vistin
Pharma. Net profit for the period was NOK 2.1 million.

"With Vistin Pharma now successfully established as a separate company, focus
will be on operational excellence and strengthening our position in the
metformin and opioids market. We will develop the long-term strategy for our
CMO segment and seek to identify potential new business opportunities", says
CEO Kjell-Erik Nordby.

Vistin Pharma will give a presentation today at 08:30 CET at Felix
Konferansesenter, Bryggetorget 3, Oslo, Norway. CEO Kjell-Erik Nordby and CFO
Gunnar Manum will represent the company.

Please find the report and presentation for the second quarter and first half
2015 enclosed. The report and presentation will also be made available
onwww.vistin.com.

For further information, please contact:

Kjell-Erik Nordby
CEO
+47 91 36 42 80
kjell-erik.nordby@vistin.com

Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum@vistin.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Vistin Pharma ASA second quarter presentation 2015
http://hugin.info/168869/R/1947493/707174.pdf
Vistin Pharma ASA second quarter report 2015
http://hugin.info/168869/R/1947493/707173.pdf

---------------------------------------

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Vistin Pharma ASA via Globenewswire

HUG#1947493

Författare Hugin

Tala om vad ni tycker

Tala om vad ni tycker

Ni är just nu inne på en betaversion av nya aktiespararna. Lämna gärna feedback på vad ni tycker i formuläret nedan.