Actelion post sales dip for first nine months, but back in profit

Switzerland’s Actelion (SIX: ATLN) posted financial results for the first nine months of 2012, with product sales of 1.30 billion Swiss francs ($1.39 billion), down 3% in local currencies (+1% in Swiss franc terms). 42 % of sales came from the USA, 37 % from Europe, 11 % from Japan and 10 % from the rest of the world. Net income amounted to 268.3 million francs, compared with a net loss of 180.7 million in the corresponding 2011 three-quarters.

Actelion, Europe’s largest biotech firm, said net income for the period includes interest income of1.6 million francs, interest expense related to litigation provisions of 31.2 million francs, interest expense on the 235 million francs bond of 9.0 million francs, other interest expense of 0.5 million francs, impairment on financial assets of 0.3 million francs, other financial expense of 1.9 million francs as well as an income tax expense of 49.3 million francs. The firm’s shares fell 2.1% to 46.55 francs in early trading this morning.