BOOM!!! Vifor CEO: 2021 will be more of a launch year than a transition year
The CEO of the group Vifor Stefan Schulze also expects income from out-licensing in the second half of the year.
08/16/2020 17:51
Packaging line at Vifor Pharma in Geneva.
Packaging line at Vifor Pharma in Geneva.
The coming year 2021 will not be a transition year, but rather a "launch year", as he said in an interview with "Finanz und Wirtschaft" (edition 15.08.).
"We will launch several products next year and the year after that," emphasizes the Vifor boss. It will be Rayaldee and Korsuva in the US next year when approval is granted. In addition, the launches of Avacopan and CR845 in Europe are being prepared. The sale of Vadadustat to Fresenius Medical Care dialysis clinics in the USA is expected to start in 2022 . "We are introducing significant changes to our product portfolio. We are entering the market with four new products that will have a significant impact on long-term growth."
There were three reasons that the company lowered its annual forecast. The corona crisis affected the sales development of Ferninject and Veltassa. As a second reason, Schulze refers to the currency impact of the strong franc. And thirdly, there were challenges in Veltassa's sales. "If we factor out the corona effects, we have exceeded our growth targets in the first half of the year. If we continue with the measures, growth will return in the second half of the year," he is convinced.
Underestimated by Valtessa
At Valtessa, they clearly miscalculated, said Schulze. "We have a competitor who is not contributing to the growth of the overall market to the extent we had hoped. He is investing primarily to gain market share." In addition, the corona crisis had an effect. Fewer people went to the doctor and fewer patients started taking Valtessa.
Schulze also expects high "other income" from local out-licensing in the second half of the year. "For example, we have planned to out-license Veltassa in China. We are also looking for partners in regions where we are not represented for other products. Such contracts usually include advance payments."
Larger acquisitions are currently not in focus. It was decided to integrate Relypsa first. It's different with partnerships. With license agreements you have a "sweet spot". Schulze refers to the agreements with Chemocentryx for Avacopan, OPKO for Rayaldee or with Cara Therapeutics for Korsuva / CR845.
