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2016-10-31

Vistin Pharma ASA third quarter 2016: Investing in future growth

Oslo, Norway, 31 October 2016

Norwegian pharmaceutical company Vistin Pharma ASA (OSE: VISTIN) recorded an
EBITDA of 7.3 million, taking the result year to date to NOK 31.0 million.
Vistin Pharma's metformin plant has been running at full capacity for several
quarters, and in August, the Company decided to invest in a major capacity
expansion. This will double the Company's metformin production capacity,
effective from 2019.

"I am pleased to report on another good quarter for Vistin Pharma. While we
are pleased with our current performance, we are constantly looking to
improve. The decision to invest in a doubling of our metformin production
capacity is an important milestone that will secure significant growth
starting 2019. In the meantime, we will secure continued growth through
operational excellence programs both within our metformin and finished dose
contract manufacturing business," says CEO Kjell-Erik Nordby.

The 3,000 metric tonnes capacity expansion in Kragerø will require an
investment of approximately NOK 120 million. The new production line is
expected to be fully operational in 2019. The investment will be financed
through a combination of existing cash reserves, cash generation and debt.

Within opioids, the Company recorded a slight drop in revenue to NOK 18.6
million (NOK 20.2 million), reflecting continued price pressure in the
market. Despite continued challenging market conditions, Vistin Pharma is
experiencing an increase in demand from several key customers. The Company's
contract manufacturing (CMO) business recorded NOK 30.8 million in revenue,
up from NOK 27.7 million in the third quarter of 2015. The operational
excellence program within the CMO business is running according to plan. This
is expected to show results in 2017, both through cost savings and higher
production capacities.

Vistin Pharma recorded an overall revenue of NOK 88.2 million in the third
quarter. Reported EBITDA was NOK 7.3 million, while the net profit came in at
NOK 4.3 million. The Company's financial position remains strong, with net
cash of NOK 72.7 million as of 30 September. Vistin Pharma has no
interest-bearing debt.

Vistin Pharma will give a presentation today at 08:30 CET at Carnegie AS,
Grundingen 2, Oslo, Norway. CEO Kjell-Erik Nordby and CFO Gunnar Manum will
represent the Company. The presentation will be webcast live and can be
accessed directly
fromhttp://webtv.hegnar.no/presentation.php?webcastId=40095826,
orhttp://www.vistin.com/investors/webcast-article214-455.htm.

Please find the report and presentation for the third quarter 2016 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.

Note: Vistin Pharma ASA was established in February 2015, and the Group had no
operating activities prior to Vistin Pharma AS' acquisition of the B2B
business and tablet production assets from Weifa AS on 1 June 2015.

About Vistin Pharma

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 in the Metformin and
Opioids markets, and a strong foundation for creating a highly efficient
Contract Manufacturing tablet production (CMO) business. Solid growth
potentials exist in all the business segments.

With more than 65 years of pharmaceutical industry experience, Vistin Pharma
has built significant capacity and expertise as an API provider. The Company
has more than 140 highly qualified employees and two manufacturing facilities
in Kragerø, Norway. Both facilities are certified according to current Good
Manufacturing Practice (cGMP) and successfully inspected by the US Food and
Drug Administration (FDA) in 2014. Vistin Pharma's headquarter is in Oslo,
Norway.

Vistin Pharma ASA third quarter presentation 2016
http://hugin.info/168869/R/2052748/768330.pdf
Vistin Pharma ASA third quarter report 2016
http://hugin.info/168869/R/2052748/768329.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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

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