“We had originally expected a slight negative performance for 2009 due to the product offensive introduced in autumn. Therefore, it is all the more satisfying for us that we were in fact able to report being in the black”, comments Hans Dieter Rössler, CEO of curasan AG.
Important milestones were the granting of the approval for ATR® (Advanced Tissue Regeneration)
The proceeds from the sale of the dental business sector to Riemser Arzneimittel AG put curasan AG in a position to complete its varied development projects using its own means up to licensing, and to then hand over the marketing of future products to various external licensees that are well positioned in the relevant market segments. In order to be able to adequately supply the sales partners in future it was necessary to invest in research, development and production capacity. For this purpose, the Frankfurt production and development centre is being transferred into larger premises close to the current site. The move will take place in stages and is expected to be completed by mid 2010.
Performance of the curasan share
Over the past year the curasan share has left the benchmark Prime Pharma and Health Performance Index far behind it. From 2.57 Euro at the beginning of 2009, it stood at 3.39 Euro on the last day of trading in 2009. This means that during the course of the year the security rose by impressive 31.9%. The high cash flow and the innovative medical products portfolio have made the company attractive for investors once again. At the beginning of the previous year, after the share price moved in line with the markets, it rose continuously from mid March onwards. The first clear share price rise occurred in March; the additional price recovery was underpinned by good turnover and performance figures. The share exhibited its annual high of 3.46 Euro on 23rd December 2009. In comparison to the previous year, the share’s trading volume was doubled.
As there is currently no suitable partner for the marketing of the synthetic bone substitute material Osbone® in the European dental market, curasan AG has taken over the centrally controlled demand creation itself. A small team specialising in this area works on the implementation of a virtual marketing and sales concept. This occurs without the need of setting-up a sales field organisation of their own, i.e. local sales will be covered by a regional dealer network in each case.
The prognosis for the following fiscal year predicts that with the remaining products as well as the newly authorised ATR® and Osbone® products a turnover of 6 million Euro will be achieved. During the 2010 fiscal year, Cerasorb®, in its different sizes and forms, is expected to remain the main source of revenue. Furthermore, the share of the export business is to be increased. Business from the newly founded curasan Inc. in the United States, with products for the orthopaedics market, will also contribute positively to the increase in turnover.
Due to the increased activities in research and regulatory affairs, as well as the costs involved in the expansion of production in Frankfurt, a negative result to the value of 1.6 million Euro is expected for 2010, which will be financed out of the second of three purchase price instalment payments made by Riemser Arzneimittel AG. The excellent liquidity will not be affected by this issue.
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Background information about curasan AG:
Exchange listed curasan AG (ISIN: DE 000 549 453 8) is one of the leading firms in the field of regenerative medicine especially in bone and tissue regeneration. In addition to the synthetic Cerasorb® bone substitution and regeneration material, the company has developed a future-oriented product pipeline. The goal during the next few years is to have further medical products ready for market rollout via well-positioned contractual partners in various market segments.