Business Development by Segment
Pharmaceuticals
Key Data – Pharmaceuticals
|
|
Q1 2016 |
|
Q1 2017 |
|
Change |
|||||
|
|
€ million |
|
€ million |
|
Reported % |
Fx & p adj. % |
||||
|
|||||||||||
Sales |
|
3,889 |
|
4,263 |
|
+9.6 |
+7.4 |
||||
Change in sales1 |
|
|
|
|
|
|
|
||||
Volume |
|
+12.7% |
|
+7.8% |
|
|
|
||||
Price |
|
−0.5% |
|
−0.4% |
|
|
|
||||
Currency |
|
−3.0% |
|
+2.2% |
|
|
|
||||
Portfolio |
|
0.0% |
|
0.0% |
|
|
|
||||
|
|
|
|
|
|
|
|
||||
|
|
€ million |
|
€ million |
|
Reported % |
Fx adj. % |
||||
Sales by region |
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|
|
|
|
|
|
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Europe / Middle East / Africa |
|
1,542 |
|
1,606 |
|
+4.2 |
+3.9 |
||||
North America |
|
989 |
|
1,073 |
|
+8.5 |
+4.9 |
||||
Asia / Pacific |
|
1,130 |
|
1,312 |
|
+16.1 |
+13.5 |
||||
Latin America |
|
228 |
|
272 |
|
+19.3 |
+11.0 |
||||
EBITDA1 |
|
1,261 |
|
1,499 |
|
+18.9 |
|
||||
Special items1 |
|
– |
|
(3) |
|
|
|
||||
EBITDA before special items1 |
|
1,261 |
|
1,502 |
|
+19.1 |
|
||||
EBITDA margin before special items1 |
|
32.4% |
|
35.2% |
|
|
|
||||
EBIT1 |
|
698 |
|
1,219 |
|
+74.6 |
|
||||
Special items1 |
|
(231) |
|
(36) |
|
|
|
||||
EBIT before special items1 |
|
929 |
|
1,255 |
|
+35.1 |
|
||||
Net cash provided by operating activities |
|
734 |
|
973 |
|
+32.6 |
|
First quarter of 2017
Sales
Sales of Pharmaceuticals rose by an encouraging 7.4% (Fx & portfolio adj.) to €4,263 million in the first quarter of 2017. Our key growth products Xarelto™, Eylea™, Xofigo™, Stivarga™ and Adempas™ once again delivered strong performance, with their combined sales rising by 20.0% (Fx adj.) to €1,445 million (Q1 2016: €1,187 million). Our Pharmaceuticals business expanded in all regions on a currency-adjusted basis.
Best-Selling Pharmaceuticals Products
|
|
Q1 2016 |
|
Q1 2017 |
|
Change |
|||||||
|
|
€ million |
|
€ million |
|
Reported % |
Fx adj.1 % |
||||||
|
|||||||||||||
Xarelto™ |
|
617 |
|
751 |
|
+21.7 |
+19.6 |
||||||
of which U.S.A.2 |
|
86 |
|
86 |
|
. |
. |
||||||
Eylea™ |
|
372 |
|
446 |
|
+19.9 |
+19.3 |
||||||
of which U.S.A.3 |
|
0 |
|
0 |
|
. |
. |
||||||
Mirena™ product family |
|
248 |
|
315 |
|
+27.0 |
+22.7 |
||||||
of which U.S.A. |
|
169 |
|
219 |
|
+29.6 |
+24.8 |
||||||
Kogenate™ / Kovaltry™ |
|
296 |
|
275 |
|
−7.1 |
−8.5 |
||||||
of which U.S.A. |
|
96 |
|
94 |
|
−2.1 |
−5.0 |
||||||
Nexavar™ |
|
213 |
|
207 |
|
−2.8 |
−5.7 |
||||||
of which U.S.A. |
|
81 |
|
75 |
|
−7.4 |
−10.0 |
||||||
Adalat™ |
|
160 |
|
174 |
|
+8.8 |
+8.5 |
||||||
of which U.S.A. |
|
1 |
|
0 |
|
−100.0 |
−98.9 |
||||||
Betaferon™ / Betaseron™ |
|
190 |
|
171 |
|
−10.0 |
−12.1 |
||||||
of which U.S.A. |
|
100 |
|
94 |
|
−6.0 |
−9.3 |
||||||
YAZ™ / Yasmin™ / Yasminelle™ |
|
172 |
|
170 |
|
−1.2 |
−7.3 |
||||||
of which U.S.A. |
|
40 |
|
20 |
|
−50.0 |
−52.3 |
||||||
Glucobay™ |
|
139 |
|
158 |
|
+13.7 |
+14.6 |
||||||
of which U.S.A. |
|
1 |
|
1 |
|
. |
−44.9 |
||||||
Aspirin™ Cardio |
|
137 |
|
157 |
|
+14.6 |
+13.8 |
||||||
of which U.S.A. |
|
0 |
|
0 |
|
. |
. |
||||||
Xofigo™ |
|
75 |
|
100 |
|
+33.3 |
+30.5 |
||||||
of which U.S.A. |
|
50 |
|
62 |
|
+24.0 |
+18.7 |
||||||
Avalox™ / Avelox™ |
|
98 |
|
100 |
|
+2.0 |
+2.3 |
||||||
of which U.S.A. |
|
0 |
|
3 |
|
. |
. |
||||||
Gadavist™ / Gadovist™ |
|
82 |
|
89 |
|
+8.5 |
+6.2 |
||||||
of which U.S.A. |
|
27 |
|
27 |
|
. |
−3.1 |
||||||
Ultravist™ |
|
71 |
|
84 |
|
+18.3 |
+18.0 |
||||||
of which U.S.A. |
|
1 |
|
1 |
|
. |
+16.4 |
||||||
Stellant™ |
|
70 |
|
78 |
|
+11.4 |
+7.6 |
||||||
of which U.S.A. |
|
52 |
|
57 |
|
+9.6 |
+6.1 |
||||||
Total best-selling products |
|
2,940 |
|
3,275 |
|
+11.4 |
+9.4 |
||||||
Proportion of Pharmaceuticals sales |
|
76% |
|
77% |
|
|
|
||||||
Total best-selling products in U.S.A. |
|
704 |
|
739 |
|
|
|
Sales by product
- Our oral anticoagulant Xarelto™ achieved strong sales growth, primarily due to an expansion of volumes in Europe and Japan. Our license revenues – recognized as sales – in the United States, where Xarelto™ is marketed by a subsidiary of Johnson & Johnson, matched the prior-year quarter.
- We once again significantly expanded our business with the eye medicine Eylea™, with performance driven by higher sales volumes in Europe. Encouraging sales gains were also achieved in Canada and Japan.
- We substantially increased sales of the hormone-releasing intrauterine devices of the Mirena™ product family (Mirena™, Kyleena™ und Jaydess™ / Skyla™), particularly in the United States, where we also benefited from the successful market launch of the new Kyleena™ intrauterine device.
- Business with our Kogenate™ / Kovaltry™ blood-clotting medicines was down overall, largely due to fluctuations in the order volumes placed by our distribution partner.
- We registered a decline in sales for our cancer drug Nexavar™, primarily due to higher competitive pressure in the United States and Europe.
- Encouraging sales gains for Adalat™, our product for the treatment of hypertension and coronary heart disease, were mainly the result of increased volumes in China.
- As expected, sales of our multiple sclerosis product Betaferon™ / Betaseron™ were lower than in the prior-year quarter due to reduced demand in Europe and the United States.
- Business with our YAZ™ / Yasmin™ / Yasminelle™ line of oral contraceptives was down overall. Sales gains in Russia and China were insufficient to offset declines caused by intensified generic competition in the United States.
- Substantial sales increases for our diabetes treatment Glucobay™ and our Aspirin™ Cardio product for the secondary prevention of heart attacks, as well as slight sales gains for our antibiotic Avalox™ / Avelox™ were largely the result of a favorable market environment in China.
- Business with our cancer drug Xofigo™ increased significantly, driven by the successful launch of the product in Japan as well as growth in the United States and Europe.
- Sales of our MRI contrast agent Gadovist™ advanced, mainly due to good business performance in Japan.
- Substantial sales gains for our X-ray contrast agent Ultravist™ were primarily the result of positive business performance in China.
- Business with our Stellant™ contrast agent injection system benefited from higher volumes, primarily in the United States.
- Sales of our cancer drug Stivarga™ increased by 9.1% to €75 million (Q1 2016: 67 million), especially due to gains in the United States and Europe.
- Sales of the pulmonary hypertension treatment Adempas™ amounted to €73 million (Q1 2016: €56 million; Fx adj. +27.5%) and, as in the past, reflected the proportionate recognition of the one-time payment resulting from the sGC collaboration with Merck & Co., United States. Business benefited mainly from a positive performance in the United States.
Earnings
In the first quarter of 2017, EBITDA before special items of Pharmaceuticals increased by a substantial 19.1% percent to €1,502 million (Q1 2016: €1,261 million). Sales increased, while selling expenses and research and development expenditures were at around the same level as the prior-year quarter. Positive currency effects amounted to around €15 million.
EBIT improved by a substantial 74.6% to €1,219 million, including special charges of €36 million (Q1 2016: €231 million).
Special Items1 Pharmaceuticals
|
|
EBIT |
EBIT |
|
EBITDA Q1 2016 |
EBITDA Q1 2017 |
||
|
|
€ million |
€ million |
|
€ million |
€ million |
||
|
||||||||
Restructuring |
|
(2) |
(3) |
|
(2) |
(3) |
||
Litigations |
|
2 |
– |
|
2 |
– |
||
Impairment losses / impairment loss reversals |
|
(231) |
(33) |
|
– |
– |
||
Total special items |
|
(231) |
(36) |
|
– |
(3) |