Novelion Therapeutics Reports Third Quarter 2018 Financial Results

Novelion Therapeutics (NASDAQ:NVLN), a biopharmaceutical company dedicated to developing and commercializing therapies for individuals living with rare diseases today reported financial results for the third quarter and nine months ended September 30, 2018. In a separate press release on November 8, 2018, Novelion announced a comprehensive business update.

As quoted in the press release:

JUXTAPID®: Novelion reported net revenues of JUXTAPID of $14.3 million in the third quarter of 2018, $8.1 million, or 57%, of which were from prescriptions written in the U.S. and $0.6 million of which was royalty revenue from sales of JUXTAPID in the EMEA region.

MYALEPT®: Novelion reported net revenues of MYALEPT of $16.1 million in the third quarter of 2018, $12.3 million, or 76%, of which were from prescriptions written in the U.S.

GAAP total net revenues for the third quarter of 2018 were $30.3 million compared to $28.7 million for the same period of 2017. Revenue growth in Japan, Brazil and other foreign markets as well as growth of U.S. MYALEPT sales offset the decline of JUXTAPID sales in the U.S.

GAAP net revenues for JUXTAPID in the third quarter of 2018 were $14.3 million compared to $15.2 million for the same period in 2017.

GAAP net revenues for MYALEPT in the third quarter of 2018 were $16.1 million compared to $13.5 million for the same period in 2017. MYALEPT revenue growth in the third quarter was driven by increased sales in all key markets.

Click here to read the full press release.