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Pozen, Inc. Message Board

  • hofno2003 hofno2003 Jul 25, 2014 1:34 AM Flag

    Vimovo Sales 2nd Quarter: $60 million, per statement Horizon

    Horizon's June presentation stated, that the Vimovo sales for April had been at 20.8 million usd (March: 20.5 million usd). So we can get a clue about second quarter revenue of Vimovo which will be in the range of 60 million usd and with continued acceleration. First quarter Vimovo sales have been at $35 million - so thats almost a double!
    POZN will be net earnings positive on Vimovo royalties alone with this Vimovo sales performance at HZNP. Nice surprise for shortsellers of POZN and confirmation will follow within next days from HZNP.

    hofno

    Sentiment: Strong Buy

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    • Careful not to confuse GROSS vs NET sales. POZN revenues is 10% of NET V sales.

      It is almost certain that the April V sales reported by Horizon is gross. Recall from HZNP Q1 report the difference between GROSS and NET V sales figures...

      "VIMOVO gross and net sales during the three months ended March 31, 2014 were $50.0 million and $34.0 million, respectively, after deducting sales discounts and allowances of $16.0 million, including co-pay assistance costs of $4.6 million."

      Nonetheless HZNP's claim of April sales (likely GROSS) of 20.8M in April suggests that their Q2 GROSS V sales will be in excess of $60M, or 20% greater than Q1. It is plausible that POZN income will increase about 0.02/sh in Q2 vs Q1 from the boast in V sales (an extra $700,000 in income)..

 
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