DOCSLIB.ORG

Vistin Pharma ASA

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Vistin Pharma ASA Vistin Pharma ASA Oslo Børs 10 June 2015 1 COMPANY OVERVIEW This is Vistin Pharma Overview Key financials (NOK million) . Leading producer of active ingredients for diabetes medicine (metformin) and opiates for use in pain relief 242 and cough medicine 229 199 . Significant contract manufacturer (CMO) of solid dosage 170 form (tablets) products 155 131 . Production of codeine API since 1950, and production of metformin since 1969 22 20 . Headquartered in Oslo with production plants in Kragerø . Employs ~140 highly qualified people 2009 2010 2011 2012 2013 2014 . Debt free company Revenues B2B segment as reported in Weifa EBITDA . Kjell-Erik Nordby, previous CEO of Weifa ASA, is the CEO of Vistin Pharma Note that the historical reported figures do not include revenues or EBITDA from the CMO business area established in Vistin Pharma, or any stand alone costs for Vistin . Ole Enger is Chairman of the Board Pharma Vistin Pharma business areas Metformin Opioids 3rd party CMO 2 METFORMIN First line treatment of type 2 diabetes Vistin Pharma metformin overview Global manufacturing capacity – Metformin HCI Vistin Pharma ~8% . Producer of three different metformin API products - Metformin HCl (bulk API, “fine, dry powder”) - Metformin DC (“directly compressible”, a granulated pre- tablet form) ~35 000MT - Metformin tablets (ready for consumption) . Sales to reputable international pharmaceutical companies . Positioned as “high-value” producer in a low cost competitive market (many low cost Asian competitors) Historical reported revenues (NOK million) . State-of-the-art plant in Kragerø (Fikkjebakke) 150 +13% 142 . Certificated by all significant international regulatory bodies 111 101 88 . Positioned closely to major customers – can supply 80 customers within 24 hours 2009 2010 2011 2012 2013 2014 3 METFORMIN Diabetes - The Global Epidemic . Diabetes is estimated to grow 55% from 2013 to 2035 . Largest growth in developing economies Source: IDF (International Diabetes Federation) 4 METFORMIN Expected foreseeable annual metformin volume growth of 7-8% . Metformin consumption in 2013 Type 2 diabetes (T2D) corresponds to . Represents about 90% of diabetes cases - treatment of ~50% of diagnosed population and - ~25% of total population with T2D . 46% of total T2D population estimated to be undiagnosed . Expected 7-8% p.a. growth explained by: . Significant portion of diagnosed population - Average daily dose increase from 500/850mg currently not receiving recommended to 1000mg dosage/therapy - Increased number of diagnosed patients - Increased number of treated patients Metformin . Plain metformin is the standard 1st line therapy for T2D . Metformin combined with other APIs are 2nd and 3rd line therapy . Fixed dose combination products containing metformin represent about 10% of metformin volume 5 METFORMIN Value proposition in the metformin market Two key characteristics placing Vistin Pharma in a unique position within the metformin market Operational excellence Aim to dominate the high value customer segment . Provides among the purest and most free-flowing qualities . Focus on reliable supply and consistent high quality API of metformin in the global market . Supplies customized products and services . Measures to be taken to further increase the product quality . Excellent customer support with short lead times and capacity . Sufficient capacity and long term delivery . Capacity can easily be expanded by +300- 400MT up to 3500MT/year with limited investments - Expand to 5000 MT when sufficient high value volume is secured . Multi-source suppliers secure delivery of critical raw material . Strong risk based management . Transform the underlying cost structure through scale economies EXCELLENT QUALITY SHORT LEADTIME RELIABILITY PREMIUM VALUE ADDED OFFER PRICE 6 OPIOIDS Major opioids “powder-to-pill” supplier Overview Global manufacturing capacity . Drugs delivered from opium and their chemically Codeine market Pholcodine market related derivatives Vistin Pharma Vistin Pharma ~7% ~16% - Opioids is a group of natural and synthetic drugs with morphine-like properties . The competitive market for opioids production is heavily influenced by tight controls and regulations ~400MT ~10MT . Vistin Pharma produces two APIs in the opioid sector - Codeine (analgesics and cough syrup) - Pholcodine (cough syrup) . Also produces codeine tablets (FDF) Historical reported revenues (NOKm) - First commercial sales of codeine tables in Q4 2014 NOK million . Production in Kragerø (Gruveveien) +9% . Customers are leading pharmaceutical companies 82 75 worldwide 71 57 58 . Few raw material suppliers (and API competitors) due to the high barriers to entry (regulatory requirements) 2010 2011 2012 2013 2014 7 OPIOIDS Stable growth in the use of opioids Growth driven by developing countries Competitive situation - high entry barriers . Aging population and rising prevalence of diseases . Only a few companies are allowed to manufacture - Demand, measured by defined daily doses, has increased 3.5 opioids times in 20 years (CAGR of ~6.5%) . Strong international control and regulations by INCB . North America dominates the global market for opioids . Several of the manufacturers have strong, protected . Asia expected to be the fastest growing market the positions in their home markets due to import next years restrictions - Current shortage of opioid medication and fast economic . Few European opioid API suppliers development . Raw material supply controlled by a small number of producers GLOBAL CODEINE API PRODUCTION +6% 414 382 42 340 323 331 36 14 78 19 21 62 70 53 80 295 256 258 284 224 2008 2009 2010 2011 2012 Other uses Utilized to make other APIs Consumed as Codeine Source: INCB statistics 8 OPIOIDS Unique position in today’s codeine market driven by… Vistin Pharma: …the industry’s unusual key features… . Established market share of ~30% in the UK – . Tight regulatory controls create high entry barriers the largest codeine market in Europe - eliminates the risk of low cost Asian competition as prevailing . Codeine production since 1950 in other API industries . Very few raw material suppliers – an oligopoly . Very good relationship with the regulators resulting in swift import/export licenses . Is the world largest independent manufacturer of codeine phosphate API . Aim for global codeine business leadership and to become a fully integrated supplier …and the Company’s in-house FDF capabilities . The customers (codeine FDF marketers) either make their own FDFs or are supplied under B2B contracts by CMO . All major NRM producers also produce codeine API… . …but none of them have in-house FDF capabilities . Vistin Pharma is uniquely positioned in the value chain through both API and FDF manufacturing capabilities (API supplier with in-house FDF capabilities) 9 3RD PARTY CMO Vistin Pharma - a CMO tablet manufacturer Vistin Pharma has a CMO agreement with Weifa Preliminary estimated key financials . Contract manufacturer agreement (CMO) with Weifa for 2015 full year basis the production of Weifa’s key pain relief brands . Revenues: approximately NOK 110 - 120 million - The first term duration of five years with extension option . EBITDA: approximately NOK 8 million . Key drivers for the CMO industry is: - Change in regulatory frameworks - Margin pressure - Efficiency gap compared to other industries CAPACITY ILLUSTRATED . Production at the company’s plant in Gruveveien, Kragerø - Estimated production of ~650 million tablets in 2015 - Vistin Pharma can produce up to ~950 million tablets annually without any significant new investments Current Capacity capacity potential New capacity from new shifts and/or new investments Free capacity Capacity utilization with current agreements 10 .
Load more

Recommended publications
  • Aqualis ASA (A Public Limited Liability Company Organised Under the Laws of Norway) Org.No
    Aqualis ASA (A public limited liability company organised under the laws of Norway) Org.no. 913 757 424 The information in this prospectus (the "Prospectus") relates to (i) a underwritten rights issue (the “Rights Issue”) by Aqualis ASA (“Aqualis” or the “Company”, and when taken together with its consolidated subsidiaries, the “Group” or the “Aqualis Group”) and the listing on Oslo Børs of up to 8,882,575 new shares in the Company with a par value of NOK 0.1 each (the “Rights Issue Shares”), issued for a subscription price of NOK 3.96 per share (the “Subscription Price”), (ii) listing of 4,375,000 new shares in Aqualis, each with a par value of NOK 0.1 each (the “Private Placement Shares”) and (iii) listing of 14,865,621 new shares in Aqualis, each with a par value of NOK 0.1 each (the “Consideration Shares”, and together with the Rights Issue shares and the Private Placement Shares the “New Shares”). Subscription Period for the Rights Issue: From 24 June 09:00 (CET) to 8 July 16:30 (CET) Trading in Subscription Rights: From 24 09:00 (CET) 4 July 16:30 (CET) The shareholders of the Company as at 11 June 2019 (and being registered as such in the Norwegian Central Securities Depository (the "VPS") on 13 June 2019 pursuant to the two days' settlement procedure (the "Record Date")) (the "Existing Shareholders"), will be granted subscription rights in the Rights Issue that, subject to applicable law, provide preferential rights to subscribe for and be allocated Rights Issue Shares at the Subscription Price (the "Subscription Rights").
    [Show full text]
  • Aqualis Offshore Holding ASA (A Public Limited Liability Company Organised Under the Laws of Norway) Org.No
    Aqualis Offshore Holding ASA (A public limited liability company organised under the laws of Norway) Org.no. 913 757 424 Listing of 43,190,544 shares in Aqualis Offshore Holding ASA (the “Shares”) on the Oslo Stock Exchange (the “Listing”) The first day of listing of Aqualis Offshore Holding ASA (“New Aqualis” or the “Company”, together with its subsidiaries the “New Aqualis Group” or the “Group”) on the Oslo Stock Exchange is expected to be 13 August 2014 and trading in the shares will commence on the date of listing, under the trading symbol AQUA. Investing in the Shares involves a high degree of risk. See section 2 “Risk Factors” beginning on page 15. THIS PROSPECTUS SERVES AS A LISTING PROSPECTUS ONLY, AS REQUIRED BY NORWEGIAN LAW AND REGULATION. THIS PROSPECTUS DOES NOT CONSTITUE AN OFFER TO BUY, SUBSCRIBE OR SELL ANY OF THE SECURITIES DESCRIBED HEREIN, AND NO SECURITIES ARE BEING OFFERED OR SOLD PURSUANT TO IT. Manager: 12 August 2014 AQUALIS OFFSHORE HOLDING ASA IMPORTANT INFORMATION For the definitions of terms used throughout this Prospectus, see section 17 "Definitions and glossary of terms" of this Prospectus. This prospectus (the “Prospectus”) has been prepared to comply with the Norwegian Securities Trading Act of 29 June 2007 no. 75 (the “Norwegian Securities Trading Act”) and related secondary legislation, including the Commission Regulation (EC) no. 809/2004 implementing Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 regarding information contained in prospectuses (the “Prospectus Directive”) as well as the format, incorporation by reference and publication of such prospectuses and dissemination of advertisements (hereafter “EC Regulation 809/2004”).
    [Show full text]
  • Package Leaflet: Information for the User Trampalgin 37.5 Mg/325 Mg
    Package leaflet: Information for the user Trampalgin 37.5 mg/325 mg tablets tramadol hydrochloride/paracetamol Read all of this leaflet carefully before you start taking this medicine because it contains important information for you. • Keep this leaflet. You may need to read it again. • If you have any further questions, ask your doctor or pharmacist or nurse. • This medicine has been prescribed for you only. Do not pass it on to others. It may harm them, even if their signs of illness are the same as yours. • If you get any side effects, talk to your doctor or pharmacist or nurse. This includes any possible side effects not listed in this leaflet. See section 4. What is in this leaflet: 1. What Trampalgin is and what it is used for 2. What you need to know before you take Trampalgin 3. How to take Trampalgin 4. Possible side effects 5. How to store Trampalgin 6. Contents of the pack and other information 1. What Trampalgin is and what it is used for Trampalgin is composed of two pain relieving active substances, tramadol and paracetamol. Trampalgin is used to treat moderate to severe pain when your doctor recommends that a combination of tramadol and paracetamol is needed. Trampalgin is intended for adults, adolescents and children over 12 years of age. 2. What you need to know before you take Trampalgin Do not take Trampalgin • if you are allergic (hypersensitive) to the active substances tramadol and paracetamol or any of the other ingredients of Trampalgin • in cases of acute poisoning with alcohol, sleeping pills, pain relievers or psychotropic drugs (that affect mood, emotions and state of mind).
    [Show full text]
  • Let Food (Supplements) Be Thy Medicine
    4-Feb-19 7:40 AM Italian Equity Research PHARMANUTRA BUY Sector: Pharmaceutical New Coverage TP 21.50 Let Food (Supplements) Be Thy Medicine New Coverage Target price upside: +25% We initiate coverage on Pharmanutra with a BUY rating and a Target Price of EUR21.50 per FY18E FY19E share, providing 25% upside to the current share price. The Group is an undisputed leader in Change in EPS est. iron food supplements market (Sideral® has gained a 50% market share in Italy), and a 0.0% 0.0% credible challenger in the topical anti-inflammatory market (Cetilar® is quickly gaining market share). Thanks to an Intellectual Property (IP) production and management strategy Ticker (BBG, Reut) PHN IM PHN MI incomparable within the dietary supplements and medical devices industry, Pharmanutra Share price Ord. (Eu) 17.3 has created long-lasting competitive advantages and high barriers to protect its assets. The N. of Ord. shares (mn) 9.7 Group owns 8 proprietary raw materials, 7 patents based on pure technological innovation, Total N. of shares (mn) 9.7 25 registered brands, and has 79 completed clinical trials. We expect the impressive growth Market cap (Eu mn) 167 track record to continue in the medium term (we forecast a high-teens revenue and profit Total Market Cap (EU mn) 167 CAGR in 2017-20) driven by: the development of new formulations/applications for Sideral® Free Float Ord. (%) 29% and Cetilar® families of products, the launch of brand-new products (Sucrosomial Free Float Ord. (Eu mn) 48 magnesium®), and a wider penetration of foreign markets (the Group is constantly entering Daily AVG liquidity Ord.
    [Show full text]
  • Spec Pharma M&A Transaction Multiples
    SECTOR REPORT FOURTH QUARTER 2016 Disclaimer All information set forth in this report (the “Overview”) has been synthesized by Bourne Capital Partners, L.L.C. (“BP”) or was obtained from publicly available sources. BP makes no express or implied representation or warranty as to the accuracy or completeness of the information contained herein. BP expressly disclaims any and all liability that may be based on all information set forth in the Overview, errors therein, or omissions therefrom. This Overview includes certain statements, estimates and projections provided by BP with respect to anticipated future performance. Such statements, estimates and projections reflect various assumptions made by BP concerning anticipated results, which reflect significant subjective judgments made by BP and as a result, may or may not prove to be correct. There can be no assurance that such projected results are attainable or will be realized. No express or implied representations or warranties are made as to the accuracy of such statements, estimates or projections. In furnishing the Overview, BP does not undertake any obligation to provide the recipient with access to any additional information, to correct any inaccuracies that may become apparent or to update or otherwise revise this Overview. This Overview is not an offer to sell or a solicitation of an offer to purchase securities or to engage in any other transaction. BP is a North Carolina (USA) limited liability company doing business as Bourne Partners with divisions in Healthcare Merchant Banking, Alternative Assets, Management Consulting and Investment Banking. Investment Banking services are offered by Bourne Partners Securities, LLC, a registered broker dealer, Member FINRA and SIPC.
    [Show full text]
  • Smart Choices for Everyday Healthcare Annual Report 2019 Table of Contents
    Annual Report 2019 Smart choices for everyday healthcare Annual Report 2019 Table of contents 28 Multi-Gyn: Management A natural treatment Financial review for vaginal discomfort statements 29 Locobase: The international skin care brand from Karo Pharma 06 Smart choices for 38 Statutory administration everyday healthcare 30 Power to our people report 07 Business model and 32 Operation Smile: 50 Five-year summary key categories Combatting cleft lip and palate 52 Corporate governance 08 Strongholds in the Nordics report and a global presence 34 Share and shareholders 56 Board 10 Letter from the CEO: A new Karo Pharma 58 Management with a new purpose "We’ve made it our 68 Notes 12 Letter from the Chairman purpose to develop 93 Audit report 14 Growing through reliable ways for smart choices people to treat their 97 Annual general meeting 16 Highlights 2019 everyday ailments, 18 A new group to help them live at the reins healthier lives. We 20 Market overview: call it smart choices Growth drivers and challenges for everyday health- care." 24 M&A: The vehicle of our growth – Christoffer Lorenzen, CEO, Karo Pharma 26 Our wide product portfolio 3 Karo Pharma Annual Report 2019 Management review 4 Management review 5 Management review Optimisation of portfolio and Business supply chain Smart model We own and We’re a virtual commercialise company and trusted, high quality, partner for access and key documented and to research and original brands Smart production choices for choices for categories everyday healthcare We occupy a space in the modern
    [Show full text]
  • Annual Report 2015
    Annual Report 2015 3 THIS IS VISTIN PHARMA 3 Highlights and key financial figures 4 Letter from the CEO 6 This is Vistin Pharma 10 Members of the Board 11 The Executive Management 12 Shareholder information 14 FROM THE BOARDROOM 14 Corporate governance 18 Directors' report for 2015 23 Responsibility statement 25 GROUP ACCOUNTS 26 Income statement 27 Comprehensive income statement 28 Balance sheet 29 Changes in equity 30 Cash flow statement 31 Notes to the Group accounts 48 ASA ACCOUNTS 49 Income statement 50 Balance sheet 51 Changes in equity 52 Cash flow statement 53 Notes to the ASA accounts 59 AUDITOR'S REPORT Highlights and key financial figures • The Vistin Pharma group was successfully established in 2015 Key figures from P&L (NOK 000's) 2015 1) . - Acquired the B2B business (metformin and opioids APIs) and tablet production assets Total revenue and income 227 892 Cost of materials 81 646 from Weifa AS for NOK 120 million on 1 June 2015 Other operating expenses 47 282 - Completed a NOK 170 million equity issue EBITDA 27 883 - The shares of Vistin Pharma were listed on Oslo Axess on 10 June 2015 Profit for the year 19 122 • Fifth consecutive year with double digit revenue growth for the metformin Key figures from the balance sheet (NOK 000's) business acquired from Weifa Cash & cash equivalents 61 989 Total assets 259 008 . - Continued strong metformin demand, and supply agreements signed with new customers Borrowings - . - Strong foothold established in the Japanese market Total equity 183 924 . - Agreement signed with a distribution agent for the US market Share data • Stable opioid prices despite continued challenging market Earnings per share – diluted (NOK) 1.12 Number of shares outstanding as of 31.12 17 054 935 .
    [Show full text]
  • Vistin Pharma ASA (A Public Limited Liability Company Organized Under the Laws of Norway)
    Vistin Pharma ASA (A public limited liability company organized under the laws of Norway) Listing of the Shares in Vistin Pharma ASA on Oslo Axess in connection with the offering of 17,054,935 Offer Shares at a Subscription Price of NOK 10 per Offer Share. This prospectus (the “Prospectus”) relates to, and has been issued by Vistin Pharma ASA (the “Company”), solely for use in connection with the offering (the "Offering") and listing on Oslo Axess, a regulated market operated by Oslo Børs ASA (the "Listing") of 17,054,935 new ordinary shares (the "Offer Shares") in the Company, each with a nominal value of NOK 1 and at a subscription price of NOK 10 per Offer Share (the “Subscription Price”). The Offering consists of (i) 15,554,935 new shares at NOK 10 per new share (the “New Shares”) are directed towards the shareholders of Weifa ASA ("Weifa") as of 19 May 2015, registered as such in the Weifa's shareholder register in the Norwegian Central Securities Depository (the "VPS") on 21 May (the "Record Date"), (the “Rights Offering”), who are not resident in a jurisdiction where such offering would be unlawful or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action (the "Eligible Shareholders") and (ii) 1,500,000 new shares at NOK 10 per new share (the “Employee Offer Shares”) are directed towards the Board of Directors, Executive Management and employees of the Company (the “Employee Offering”). The Employee Offering will be divided into three sub-tranches; (i) 500,000 Employee Offer Shares offered to the Company’s Board of Directors, (ii) 500,000 Employee Offer Shares offered to the Company’s Executive Management, and (iii) 500,000 Employee Offer Shares offered to the Company’s full-time employees as of the date of the transferal of the Acquired Interests.
    [Show full text]
  • Codeine Art. 31
    26 February 2013 EMA/124076/2013 Patient Health Protection Annex I List of the names, pharmaceutical forms, strengths of the medicinal products, routes of administration, marketing authorisation holders in the member states for codeine containing medicinal products used for pain in children Article 31 of Directive 2001/83/EC resulting from pharmacovigilance data Procedure number: EMEA/H/A-31/1342 7 Westferry Circus ● Canary Wharf ● London E14 4HB ● United Kingdom Telephone +44 (0)20 7418 8400 Facsimile +44 (0)20 7418 8416 E -mail [email protected] Website www.ema.europa.eu An agency of the European Union © European Medicines Agency, 2013. Reproduction is authorised provided the source is acknowledged. Member Marketing Product name INN Strength Pharmaceutical Route of State in EEA authorisaton holder form administration Austria Mundipharma GmbH, Codidol retard 60 mg - Dihydrocodeine 60 mg prolonged- oral use Apollogasse 16 - 18 Filmtabletten release tablet 1070 Vienna Austria Austria Mundipharma GmbH, Codidol retard 90 mg - Dihydrocodeine 90 mg prolonged- oral use Apollogasse 16 - 18 Filmtabletten release tablet 1070 Vienna Austria Austria Mundipharma GmbH, Codidol retard 120 mg - Dihydrocodeine 120 mg prolonged- oral use Apollogasse 16 - 18 Filmtabletten release tablet 1070 Vienna Austria Austria G.L. Pharma GmbH, Dehace retard 60 mg - Dihydrocodeine 60 mg prolonged- oral use Schloßplatz 1 Filmtabletten release tablet 8502 Lannach Austria Austria G.L. Pharma GmbH, Dehace retard 90 mg - Dihydrocodeine 90 mg prolonged- oral use Schloßplatz
    [Show full text]
  • Acetaminophen- Clinicalkey
    3/12/2019 Acetaminophen- ClinicalKey DRUG MONOGRAPH Acetaminophen Acephen | Aceta | Actamin | Adult Pain Relief | Anacin Aspirin Free ... Drug Information Provided By Gold Standard Description Acetaminophen (APAP, paracetamol) is a para-aminophenol analgesic and the active metabolite of phenacetin. Due to the toxic effects of phenacetin at therapeutic doses and the availability of acetaminophen, phenacetin is no longer used. Acetaminophen possesses analgesic and antipyretic activity similar to aspirin; however, acetaminophen has no peripheral anti-inflammatory activity or effects on platelet function. Acetaminophen was first used in clinical medicine in the 1890s. It is effective in the relief of both acute and chronic pain and may be preferred over NSAIDs due to fewer hematologic, gastrointestinal, and renal effects. Acetaminophen is the preferred analgesic/antipyretic for patients in whom aspirin is contraindicated and in those with underlying renal disease for episodic, though not chronic, use.23977 In addition, acetaminophen has been recommended by the American Lung Association as the first line treatment for aches and pains associated with the flu, by the American Geriatrics Society for both minor and persistent pain in elderly patients, and by the American College of Rheumatology as first-line therapy for osteoarthritis of the hip or knee.35614 35976 The drug has a history of safe and effective use; however, unintentional or intentional misuse of acetaminophen is the number one cause of acute hepatic failure in the U.S.32202 Acetaminophen was first approved by the FDA in 1950. Intravenous acetaminophen was approved by the FDA in November 2010 for the treatment of pain and fever in adults, adolescents, and children over the age of 2 years.
    [Show full text]
  • Annual Report 2018 in Memoriam Anders Lönner
    Annual Report 2018 In memoriam Anders Lönner KARO PHARMA’S EXECUTIVE icant work for Swedish pharma- CHAIRMAN ANDERS LÖNNER died ceutical research, the Swedish suddenly on 30 November 2018 pharmaceutical industry and at the age of 73. On 23 May 2014, Swedish society generally. he was awarded an honorary As a business leader, Anders’ doctorate in medicine by the approach was highly analyt- Karolinska Institute, with the ical and strategic, qualities citation reading: “through his that were the foundation of entrepreneurship, Anders Lönner his professional decisions. His has been highly significant decisions were also based on to Swedish pharmaceutical In 2014, Anders was awarded an honorary doctorate exceptional judgement and in medicine from the Karolinska Institute, for his sig- research, the Swedish pharma- nificant work for Swedish pharmaceutical research, in-depth experience. As an ceutical industry and Swedish the Swedish pharmaceutical industry and Swedish entrepreneur, he was charac- society generally. society generally.” terized by efficient simplicity, Anders enjoyed a long and successful career in the and he disliked unnecessary bureaucracy. pharmaceutical industry, firstly with Astra AB and Anders was also a master of negotiation, driven by more recently Meda AB. Anders transformed Meda reaching his objective. Rather than get caught up in from a small, local distribution enterprise into a highly the detail, he concentrated on achieving success. successful global specialty pharma company. As By 2018, Anders and the Board of Directors realized Meda’s CEO, Anders created substantial values for the that Karo Pharma’s existing structure was inadequate company’s shareholders, and a great environment for to execute its continued expansion strategy, of creat- the company’s people.
    [Show full text]
  • Aqualis ASA – Annual Report 2014 THIS IS AQUALIS
    AQUALIS ASA ANNUAL REPORT 2014 3 THIS IS AQUALIS 3 Key financial figures 4 Highlights 2014 5 Introducing Aqualis ASA 8 Letter from the Chairman 10 Offshore Oil & Gas 14 Offshore Renewables 16 Members of the Board 17 The Executive Management 20 FROM THE BOARDROOM 20 Corporate governance 24 Directors' report for 2014 29 Responsibility statement 31 GROUP ACCOUNTS 32 Statement of profit and loss 33 Comprehensive income statement 34 Balance sheet 35 Changes in equity 36 Cash flow statement 37 Notes to the Group accounts 57 ASA ACCOUNTS 58 Income statement 59 Balance sheet 60 Cash flow statement 61 Notes to the ASA accounts 69 AUDITOR'S REPORT 2 Aqualis ASA – Annual Report 2014 THIS IS AQUALIS KEY FINANCIAL FIGURES Key figures from P&L (USD 1 000) 2014 2013* Financial calendar 2015 Total operating income 2 241 31 937 EVENT DATE Payroll and payroll related costs 18 563 1 790 Other operating costs 14 575 1 278 First quarter results 28 April Proft/(Loss) after tax -250 -873 Annual General Meeting 22 May Second quarter results 26 August Third quarter results 27 October Key figures from the balance sheet (USD 1 000) Cash & cash equivalents 21 790 838 Borrowings - 5 174 Total assets 51 348 19 901 Ticker symbol Total equity 44 447 12 335 Oslo Børs AQUA Reuters AQUA:OL Share data Bloomberg AQUA:NO Earnings per share (USD) -0.01 Number of shares outstanding as at 31.12 43 190 544 Number of employee share options outstanding at 31.12 750 000 Share price at 31.12 (NOK) 7.55 * Figures for FY 2013 represent historical figures from Weifa ASA’s (former Aqualis ASA) group accounts related to the spin-off of the Aqualis Offshore business.
    [Show full text]