Cosmo Pharmaceuticals N.V. / Key word(s): Annual Results
Ad hoc announcement pursuant to Art. 53 LR
Dublin, Ireland - 23 March 2022: Cosmo Pharmaceuticals N.V. (SIX: COPN, XETRA: C43) ('Cosmo') reports full-year 2021 results for the year ended 31 December 2021, confirms beating guidance, and, as previously announced, proposes a dividend of €0.95 per share at the next AGM on 27 May 2022.
Mauro Ajani, Chairman of Cosmo, said: 'I am very satisfied to see Cosmo's entering large markets while preserving its pioneering approach.'
Alessandro Della Chà, Chief Executive Officer, said: 'We entered 2021 with high expectations and we are pleased to report remarkable business achievements during yet another challenging year. Most importantly, Cosmo has shifted from niche markets to very large markets, thereby significantly increasing our revenue potential. We now have two new and very innovative products, GI Genius(TM) and Winlevi(R), in two major markets. We are tackling these opportunities with two very strong partners, Medtronic and Sun Pharma. GI Genius(TM) addresses the worldwide colonoscopy market of an estimated 60 million annual colonoscopy procedures, of which an estimated 19 million are carried out in the US which, in terms of volume, is second only to the blood test. Winlevi(R) addresses the acne market with the first new mechanism of action for the treatment of this condition in almost 40 years. Acne affects an estimated 640 million people worldwide and the market in the US is worth an estimated USD 5bn per annum just for prescription drugs alone. In the meantime, we have seen our legacy products continue to perform well notwithstanding the difficult environment due to the pandemic. Our results reflect our capabilities, execution mindset and commitment to long term relationships. We are progressing the replenishment of our development pipeline and our performance in 2021 is reflected in a positive cashflow from operations and in our strong balance sheet. Our year-end cash balance of €222.2 million provides us with the necessary financial flexibility to execute on our strategic priorities. We are thus confident about our 2022 outlook.'
Effective April 1, 2022, Mr. Luigi Longo, currently Cosmo's R&D Operations Manager, will be promoted to the role of Chief Scientific Officer (CSO).Mr. Longo, Italian (born 1979), began his career as an analytical laboratory scientist in Cosmo S.p.A. in June 2005. He continued his career in the R&D laboratory department and was appointed Scientific Project Manager in 2014. In this role, he collaborated with the CSO of Cosmo in the management of several R&D projects and contributed to the successful completion of several R&D development programs. Mr. Longo has a degree in chemistry and pharmaceutical technology from 'La Sapienza' University in Rome.
Further, the Company has hired Mr. Stefano Alvergna as Chief Medical Officer, effective April 1, 2022. Mr. Alvergna, Italian (born 1958), has 30 years of experience in R&D and clinical research on drugs and medical devices covering different roles in CROs and pharmaceutical companies. Prior to joining Cosmo Mr. Alvergna was responsible for Scientific Service and Corporate Medical Affairs at Fidia Farmaceutici. In his career he has planned and managed more than 200 clinical trials, supervising scientific activities and medical aspects from phase I to III in different therapeutical areas. He has a degree in Medicine and Surgery from the University of Bologna, where he specialized in Toxicology.
The Full-Year Report 2021 with further information was published today, 23 March 2022 at 07:00 am CET and is available for download at:
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About Cosmo Pharmaceuticals
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Cosmo Pharmaceuticals N.V.
Riverside 2, Sir John Rogerson's
Dublin 2 Dublin
+ 353 1 817 0370
SIX Swiss Exchange
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