Actelion Q1 net income increased to CHF102.1m

Swiss biopharmaceutical company Actelion has reported a net income of CHF102.1m, or CHF0.83 per diluted share, for the first quarter of 2009, compared to CHF44.5m, or CHF0.36 per diluted share, for the first quarter of 2008.

Actelion has reported net revenues of CHF405.6m for the first quarter of 2009, an increase of 26%, compared to CHF321.6m for the first quarter of 2008.

Andrew Oakley, CFO of Actelion, said: Actelion continues to deliver significant top-line growth, accompanied by measured increases in our cost base. We continue to generate free cash flow and enjoy a strong cash position. From this situation of strength, we continue to invest into potential future revenue drivers from our own pipeline, while being able to appropriately strengthen our product range through in-licensing or acquisitions, as demonstrated in late February through the acquisition of another pulmonary arterial hypertension agent.

With a good start into the year, I am able to confirm previous guidance. Unforeseen events excluded, Actelion expects 2009 to be another year of growth, with total net revenues – in local currencies – to increase between 12 and 15%. Cash EBIT is forecasted to increase – in local currencies – by 10 to 12%.