15th Jan 2021 13:11
Shield Therapeutics PLC - Newcastle-based specialty pharmaceutical company - Says trading for the recent year was in line with market expectations. Expects revenue of GBP9.4 million for 2020, up from GBP700,000 in 2019. This includes GBP8.7 million from the upfront payment received from ASK Pharm on signing of the licence agreement covering China, Taiwan, Hong Kong and Macau. Says Feraccru, a product addressing iron deficiency, sales volumes for the year ended December 31 increased by approximately 70% year-on-year. Says it is currently evaluating both out-licensing and Shield-led alternatives for the launch and commercialisation of Accrufer, another name for Feraccru, in the US.
"2020 has been a positive year for Shield on many fronts. European sales volume growth of around 70% despite the COVID pandemic is very encouraging for the long term with launches still to come in France, Italy and Spain and many other European markets, and the withdrawal of Teva's opposition to our European patents has removed a significant uncertainty," Chief Executive Tim Watts says.
Current stock price: 53.00 pence
Year-to-date change: down 17%
By Greg Roxburgh; [email protected]
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