Faes Farma reported its Q4 16 and FY 16 results in line with guidance, albeit slightly below our more robust expectations. Q4 16 net sales were up by an impressive c.16% to €58.8m, with milestone payments from Japanese partner Taiho (triggered by the launch of Bilastine in Japan in November 2016) taking total revenue to €65.6m (+20%). Despite an 11% increase in employee costs (9% in FY 15) – corresponding to an eighty strong increase in the workforce (to 840 employees) –
20 Apr 2017
Satisfactory results but FY 17 guidance disappoints
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Satisfactory results but FY 17 guidance disappoints
Faes Farma, S.A. (FFEA:FRA) | 0 0 2.0% | Mkt Cap: 765.7m
- Published:
20 Apr 2017 -
Author:
Jyoti Prakash -
Pages:
3
Faes Farma reported its Q4 16 and FY 16 results in line with guidance, albeit slightly below our more robust expectations. Q4 16 net sales were up by an impressive c.16% to €58.8m, with milestone payments from Japanese partner Taiho (triggered by the launch of Bilastine in Japan in November 2016) taking total revenue to €65.6m (+20%). Despite an 11% increase in employee costs (9% in FY 15) – corresponding to an eighty strong increase in the workforce (to 840 employees) –