Photocure is a commercial-stage Norwegian speciality pharmaceutical company that currently markets Hexvix/Cysview, an optical imaging agent for diagnosing and managing bladder cancer. The franchise is currently profitable and sales are growing at an annualised rate of 38%. The company is Phase III-ready for Cevira, a treatment for HPV-related diseases of the cervix, and for Visonac, for moderate to severe inflammatory acne. We value Photocure at NOK1,523m or NOK71/share.
