Castelvecchio Pascoli (Lucca, Italy), 30 November 2021 – The Board of Directors of Kedrion S.p.A., a biopharmaceutical company that specializes in the development, production, and distribution of plasma-derived therapies and in the collection of plasma, has approved the unaudited consolidated results for the third quarter of 2021.
The following figures are on a consolidated basis.
Our sales of plasma-derivative products in the first nine months of 2021 have remained strong and almost in line with the corresponding period in 2020. Notwithstanding the strong performance in plasma-derivative sales, we recorded EUR 415.3.0 million in revenues with a decrease of 14.0% compared to our revenues for the first quarter of 2020 (EUR 484.2 million). The decrease in revenues is attributable to lower sales of plasma which were in turn driven by lower collection volumes as a result of fewer donations following government stimulus programs. Despite the prolongation of the stimulus programs and the COVID-19 pandemic, Kedrion started to see a recovery in the plasma collections that is continuing month after month.
In parallel with the recovery in plasma collection volumes, the price of IVIG in the Row and European markets is showing a strong increase.
The United States remains the first market for Kedrion, with a share of 41% of turnover, followed by the European Union with 34% (of which Italy at 19%) and the Rest of The World with a 25.0% share.
Despite the year-on year decline in revenues we reached EUR 81.9 million of reported EBITDA with a profitability of 19.7% compared to the 13.6% of last year. Excluding COVID-19 related costs, EBITDA reached EUR 105.3M (+17.0% vs last year).
Our net financial position excluding the impact of IFRS 16, as of September 30, 2021, totaled EUR 555.3 million compared to EUR 507.1 as of December 31, 2020
Lastly, the 15th of October Kedrion completed the acquisition of the Liminal BioSciences. The perimeter of the acquisition included two plasma centers, a manufacturing plant in Laval, Canada and the IPs related to Ryplazim® (plasminogen, human-tvmh) (“Ryplazim®”), a FDA-approved drug for the treatment of patients with plasminogen deficiency type 1 (hypoplasminogenemia). With this closing Kedrion has therefore assumed all development, manufacturing and commercialization activities and operating costs related to Ryplazim®.
Plasminogen is a protein synthesized by the liver and circulates in the blood. Activated plasminogen, plasmin, is a fundamental component of the fibrinolytic system and is the main enzyme involved in the lysis of blood clots and clearance of extravasated fibrin. Plasminogen is therefore vital in wound healing, cell migration, tissue remodeling, angiogenesis, and embryogenesis.
Kedrion Biopharma is an international biopharmaceutical company based in Italy that collects and fractionates plasma to produce and distribute worldwide plasma-derived products for the prevention and treatment of rare and debilitating diseases and conditions such as Hemophilia, Primary Immunodeficiencies and Rh sensitization.
Headquartered in Tuscany with more than 2,500 employees worldwide, Kedrion has a commercial presence in 100 countries and is the 5th largest player in the world, and Italy’s 1st.
Kedrion has manufacturing plants in Italy, Hungary and North America, and its subsidiary KEDPLASMA operates plasma collection centers in North America.
Kedrion acts as a bridge between donors and the people who need treatments and works on a global scale to expand patient access to available plasma-derived therapies.