Børsens News Service in English
Zealand Pharma announces 94 per cent growth in revenue
01-02-2012
10:58
The biopharmaceutical company Zealand Pharma’s revenue plus other operating income increased in total by 93.5 per cent in 2011 to DKK 170.7 million from DKK 88.2 million the previous year.
This appears of a preliminary financial report from the company, which does not yet announce annual result or expectations.
“The increase is mainly due to the agreement with Boehringer Ingelheim, signed in June 2011, for the discovery, development and commercialization of novel peptide based drugs to treat diabetes and obesity, including ZP2929. Further, in December 2011 Zealand Pharma received milestone payments of DKK 22.3 million from Helsinn Healthcare relating to the development of elsiglutide, a Zealand Pharma invented peptide drug,” the company wrote.
As of December 31, 2011, Zealand Pharma had cash and cash equivalents including securities of DKK 427.7 million compared to DKK 433 million at the end of 2010.
“The increase is mainly due to the agreement with Boehringer Ingelheim, signed in June 2011, for the discovery, development and commercialization of novel peptide based drugs to treat diabetes and obesity, including ZP2929. Further, in December 2011 Zealand Pharma received milestone payments of DKK 22.3 million from Helsinn Healthcare relating to the development of elsiglutide, a Zealand Pharma invented peptide drug,” the company wrote.
As of December 31, 2011, Zealand Pharma had cash and cash equivalents including securities of DKK 427.7 million compared to DKK 433 million at the end of 2010.
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*****||*****Zealand Pharma announces 94 per cent growth in revenue*****||*****The biopharmaceutical company Zealand Pharma’s revenue plus other operating income increased in total by 93.5 per cent in 2011 to DKK 170.7 million from DKK 88.2 million the previous year.
This appears of a preliminary financial report from the company, which does not yet announce annual result or expectations.*****||*****
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