Grupo Biotoscana announces termination of contract with Actelion
Montevideo, Uruguay, March 13, 2018. GBT-Grupo Biotoscana (B3: GBIO33), a leading biopharmaceutical company in Latin America, announces that its licensing agreement with Actelion will expire on May 28th, 2018. So far, this contract has not been renewed.
The original contract with Actelion (that was later acquired by Johnson & Johnson) was signed in 2007 and comprises the commercialization of four products: OPSUMIT, TRACLEER, ZAVESCA and VELETRI. Altogether, such products represented around (i) 15% of gross margin for the fiscal year ended in 2016, (ii) 15% of gross margin for the LTM 9M17; and (iii) 13% of gross margin for the LTM 9M17 proforma (including Laboratorio Dosa, that was acquired in November 2017).
Expenses directly attributed to Actelion products are approximately 17% of GBT’s total sales and marketing expenses. Aside from these, which should become by and large direct savings, GBT also plans to reduce its indirect expenses to mitigate the impact of this contract expiration.
Unless the scenario changes before or on May 28th, Actelion will no longer be a partner of the company and its products will no longer be part of GBT’s portfolio. In that case, Actelion line would still represent approximately 5-7% of gross margin for 2018.
The Company will provide more information regarding this matter if the situation changes.
About GBT-Grupo Biotoscana
GBT-Grupo Biotoscana (GBT) is a biopharmaceutical group that operates in the fast-growing Latin American region and focuses on rapidly growing market segments such as infectious diseases, oncology and onco-hematology, special treatments, immunology and inflammation and orphan/rare diseases, among others. GBT is currently present throughout 10 Latin American countries where it operates under its companies Biotoscana, United Medical, LKM and DOSA. GBT’s strong portfolio combines world-class licenses and proprietary products. To find out more, please visit www.grupobiotoscana.com.