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Vifor Pharma posts 44.5% rise in H1 earnings, raises guidance

Vifor Pharma AG said earnings for the first six months of 2018 grew 44.5% year over year, and raised its full-year earnings and net sales guidance.

The Swiss drugmaker posted first-half EBITDA of CHF192 million, up from CHF132.9 million in the 2017. Core earnings per share was CHF2.66, up 336.1% from CHF0.61 in the year-ago period.

The S&P Global Market Intelligence consensus normalized EPS estimate for the first half is CHF1.14.

Net sales for the period reached CHF747.4 million, a 23.4% increase from CHF605.9 million in the first six months of 2017.

The company attributed the period's strong growth to its iron deficiency drug Ferinject, its Vifor Fresenius Medical Care Renal Pharma Ltd. unit and its hyperkalemia drug Veltassa.

For 2018, Vifor Pharma expects EBITDA to grow by more than 25%, which is higher than the expected 20% or more growth it forecast on March 15. Net sales for the full year is seen to rise by more than 15%, up from the earlier expectation of 10% or more. The company also confirmed a positive outlook and the rest of its financial guidance as of March 15.