SALES RECORD FOR CHROMTOGRAPHY PRODUCTS
In 2024, we reached our highest sales of chromatography products ever with net sales of SEK 14.5 million, of which SEK 6.7 million in the fourth quarter. Sales of our silica media NLAB Saga® were able to start during the summer after we finalized and approved significantly larger volumes of silica than before from our large-scale production facility.
Production of silica has continued to stabilize during the year, which has enabled us to deliver silica at market delivery times. Our main focusduring the fourth quarter has been to increase volumes. This work will continue in 2025 and also 2026 to meet the demand for our products and to manufacture with improved margins.
During and after the fourth quarter, we received additional orders from a recurring customer in China, who is a fast-growing peptide manufacturer. They use NLAB Saga® in the manufacture of several GLP-1 analogues and since June last year they have now placed five orders, at a total value of approximately SEK 18 million. This is a true testament to ourproduct being of high quality and competitive.
The market for silica for preparative chromatography in China is growing faster than our previous assessments. Growth is mainly driven by GLP-1 products sold in geographic markets that are not patented by Novo Nordisk and Eli Lilly. In addition, several Chinese pharmaceutical manufacturers are developing biosimilars* to GLP-1 analogues for the Chinese market. In China, the patent for semaglutide (the active ingredient in Ozempic® and Wegovy®) expires in 2026, opening the market to players other than Novo Nordisk. We believe this will drive up volumes, while an increased focus on costs for pharmaceuticals is to be expected, both of which are favorable factors for us.
When I summarize 2024, it is with a sense of joy and hopefulness, even though we are still facing challenges with things taking longer than we all want. Our products now being included in the manufacturing of GLP-1 analogues on an industrial scale is a validation that Nanologica has competitive products. Therefore, I am full of confidence that we in the coming years will establish ourselves as a recognized supplier of high-quality products and services in preparative chromatography and thus get closer to our vision of better and cheaper medicines to a larger number of patients.
Södertälje in February 2025
Andreas Bhagwani, CEO
*A biosimilar is a biological drug that contains a version of the active substance of an already approved biological drug. For biosimilars, shorter studies are required to get the drug approved compared to an original drug.
CEO Comment Q4 2024
SALES RECORD FOR CHROMTOGRAPHY PRODUCTS
In 2024, we reached our highest sales of chromatography products ever with net sales of SEK 14.5 million, of which SEK 6.7 million in the fourth quarter. Sales of our silica media NLAB Saga® were able to start during the summer after we finalized and approved significantly larger volumes of silica than before from our large-scale production facility.
Production of silica has continued to stabilize during the year, which has enabled us to deliver silica at market delivery times. Our main focusduring the fourth quarter has been to increase volumes. This work will continue in 2025 and also 2026 to meet the demand for our products and to manufacture with improved margins.
During and after the fourth quarter, we received additional orders from a recurring customer in China, who is a fast-growing peptide manufacturer. They use NLAB Saga® in the manufacture of several GLP-1 analogues and since June last year they have now placed five orders, at a total value of approximately SEK 18 million. This is a true testament to ourproduct being of high quality and competitive.
The market for silica for preparative chromatography in China is growing faster than our previous assessments. Growth is mainly driven by GLP-1 products sold in geographic markets that are not patented by Novo Nordisk and Eli Lilly. In addition, several Chinese pharmaceutical manufacturers are developing biosimilars* to GLP-1 analogues for the Chinese market. In China, the patent for semaglutide (the active ingredient in Ozempic® and Wegovy®) expires in 2026, opening the market to players other than Novo Nordisk. We believe this will drive up volumes, while an increased focus on costs for pharmaceuticals is to be expected, both of which are favorable factors for us.
When I summarize 2024, it is with a sense of joy and hopefulness, even though we are still facing challenges with things taking longer than we all want. Our products now being included in the manufacturing of GLP-1 analogues on an industrial scale is a validation that Nanologica has competitive products. Therefore, I am full of confidence that we in the coming years will establish ourselves as a recognized supplier of high-quality products and services in preparative chromatography and thus get closer to our vision of better and cheaper medicines to a larger number of patients.
Södertälje in February 2025
Andreas Bhagwani, CEO
*A biosimilar is a biological drug that contains a version of the active substance of an already approved biological drug. For biosimilars, shorter studies are required to get the drug approved compared to an original drug.
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