Biofrontera AG (NASDAQ:BFRA, Frankfurt Stock Exchange: B8F))))) (the “Company”), an international biopharmaceutical company, today reported preliminary, unaudited revenue for the month of June 2021.
The Company’s preliminary, unaudited revenue from product sales in June 2021 amounted to approximately EUR 2,626 thousand, compared to EUR 1,701 thousand in June 2020, an increase of 50%.
Preliminary revenues from product sales in the US were around EUR 1,375 thousand compared to EUR 1,235 thousand in June 2020, an increase of 11%. In Germany, revenues from product sales amounted to approximately EUR 417 thousand, compared to EUR 370 thousand in June 2020, an increase of 12%. In the rest of Europe, the Company generated product sales of around EUR 834 thousand, compared to EUR 96 thousand in June 2020, a plus of 770%. Sales in June this year include the first batch of Ameluz® for reintroduction in the Scandinavian market by Galenica AB.
Preliminary unaudited revenues
| June | Q2 | |||||
| in EUR thousands | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 |
| USA | 1,375 | 1,235 | 1,539 | 4,861 | 2,166 | 5,060 |
| Germany | 417 | 370 | 309 | 1,285 | 1,054 | 1,081 |
| Europe (ex Germany) | 834 | 96 | 361 | 1,448 | 146 | 793 |
| Total revenue from product sales | 2,626 | 1,701 | 2,199 | 7,595 | 3,366 | 6,934 |
| Revenues from R&D projects and license payments | 0 | 48 | 54 | 0 | 6,278 | 162 |
| Total revenue | 2,626 | 1,750 | 2,253 | 7,595 | 9,644 | 7,096 |
Due to commercial rounding, rounding differences may occur in tables.
Due to the pandemic, the monthly and quarterly sales development is compared with sales in 2019 for increased transparency. As such, an increase of 19% in June 2021 total product sales was achieved in all markets compared to June 2019. In more detail, June 2021 sales were up by 35% in Germany and by 131% in the remaining European markets compared to June 2019. In the USA, product sales decreased by 10%. The decline was mainly caused by no or lower sales of Aktipak® and Xepi®, respectively, while sales of Ameluz® were at a comparable level.
In Q2 2021, product sales in all markets were up by around 10% compared to Q2 2019. Sales in Q2 2021 increased by around 19% in Germany and by almost 83% in the rest of the European market compared to Q2 2019. Revenue in the US market was down 4%, mainly due to the lack of or lower sales of Aktipak® and Xepi®, while sales of Ameluz® showed a slight increase compared to Q2 2019.
