Vifor Pharma Group recorded strong financial and operational performance in 2019 by focusing on its three strategic growth drivers while continuing to invest in its pipeline. The company exceeded its raised guidance for full-year 2019 on both net sales and EBITDA.

FINANCIAL PERFORMANCE: STRONG SALES AND PROFIT GROWTH CONTINUES

Net sales of CHF 1,887.2 million, up 18.5%
EBITDA of CHF 540.0 million, up 37.9%
Core EPS of CHF 4.67
Strong balance sheet with equity ratio of 75.7%
Net cash position of CHF 5.7 million
Investment grade credit rating from Standard & Poor’s received in September 2019 and from Fitch Ratings in March 2020
Initiation of the sale process for OM Pharma

FERINJECT® / INJECTAFER® ACHIEVES BLOCKBUSTER STATUS

In-market sales of CHF 1.06 billion, up 19.1% from the previous year reinforcing status as the world leading i.v. iron therapy
Net sales increased 15.6% to CHF 561.0 million, by 17.5% in local currency
Strong performance mostly driven by the US market (+18.7%)
Growth of 20.1% adjusting for inventory impacts and increased demand due to INFeD shortages in 2018
Strategic partnership with Fresenius Kabi China announced in February 2020.

EXPANSION OF NEPHROLOGY PORTFOLIO CONTINUES

Mircera® net sales CHF 523.4 million, up 16.0%, due to continued expansion in mid-sized organisation dialysis clinics in US
Velphoro® net sales CHF 181.7 million, up 89.9%, driven by strong US growth from continued adoption of updated KDIGO guidelines
Venofer® net sales CHF 132.4 million, up 12.0%, mostly driven by strong US demand
Positive top-line data from pivotal phase-III ADVOCATE trial announced in November 2019 demonstrating avacopan’s superiority over standard of care at week 52 in ANCA-associated vasculitis.

VELTASSA® CONTINUES TO DRIVE GROWTH OF HYPERKALAEMIA MARKET

Net sales CHF 132.3 million, up 46.2%, with US net sales of CHF 124.8 million
Roll out continued in Europe with additional launches in Spain, Austria, Belgium and The Netherlands
Reimbursement secured in Germany, Austria, Belgium, Finland, Portugal and Spain
Positive recommendation for funding received from NICE in the UK in December 2019
Positive results from AMBER study demonstrating potential in renin-angiotensin-aldosterone inhibitor medication (RAASi) enablement with Veltassa® in patients with resistant hypertension and CKD
Global phase-IIIb outcome study DIAMOND initiated to evaluate the potential of Veltassa® in combination with RAASi to improve patient outcomes reducing cardiovascular mortality and hospitalisations

CONTINUED FOCUS ON BUSINESS DEVELOPMENT & PIPELINE TO DELIVER GLOBAL LEADERSHIP IN IRON DEFICIENCY, NEPHROLOGY AND CARDIO-RENAL THERAPIES

Collaboration with Janssen Pharmaceuticals Inc. to commercialise Invokana® in US to nephrologists for patients with diabetic kidney disease
Partnership with Evotec, by creating a 50:50 joint venture, NephThera, to discover and develop novel nephrology therapeutics
Orphan drug designation granted by FDA and EMA to VIT-2763 (ferroportin inhibitor) for treatment of beta-thalassemia; phase-II study activities initiated in Q4 2019

ENSURING CONTINUED COMMERCIAL SUCCESS WITH THE RIGHT PEOPLE

Appointment of Dr Klaus Henning Jensen as Chief Medical Officer and member of the Executive Committee with effect from January 2020
Appointment of Lee Heeson as President International and member of the Executive Committee with effect from February 2020
Commenting on the 2019 results, Etienne Jornod, Executive Chairman of Vifor Pharma Group, said:

“Vifor Pharma Group recorded another excellent performance in 2019, focusing relentlessly on delivery and execution of our strategy. We continued to maximise our current products and future pipeline, while carefully managing costs and ensuring positive returns for our shareholders. Once again, we have kept our promise to shareholders, delivering strong, profitable growth and exceeding our raised 2019 guidance.

A strong focus on execution has enabled us to continue to build on our three strategic growth drivers. We remain on track to meet the ambitious Milestone 2020 targets which we set ourselves in 2017.”