Sedana Medical's sales increase around 90 percent
Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that the company expects sales of approximately SEK 34 million in the first quarter of 2020, corresponding to growth of around 90 percent compared to the same period last year.
On March 30, Sedana Medical announced that the company is experiencing a sharp increase in demand as a result of the novel corona virus. However, sales during the last days of March turned out to be significantly higher than expected and the company now expects a significantly higher turnover for the first quarter of 2020 than announced on March 30.
“The situation in many parts of Europe is very serious and we see a significant number of Covid-19 patients being treated with AnaConDa, primarily in Germany, but also in Benelux, France, Italy, the Nordic countries, Spain and the UK. With an increase in the occupancy of intensive care units, demand for inhaled sedation with AnaConDa is increasing and we are trying to meet it responsibly. We are continuing with partial deliveries to avoid that some hospitals are without products while stock builds up elsewhere. So far, we have not had any serious disruptions in the supply chain,” said Christer Ahlberg, CEO of Sedana Medical.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.
The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, firstname.lastname@example.org.
This information is such that Sedana Medical AB (publ) is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the contact person above, on April 6, 2020 at 8:00 a.m. (CET).
About Sedana Medical
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major pivotal study is currently ongoing to obtain market approval in Europe for inhaled sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane). The company expects the registration of IsoConDa in Europe to take place during the second half of 2021. Three years thereafter Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent.
The market for Sedana Medical’s sedation therapy of AnaConDa and IsoConDa consists primarily of sedation of mechanically ventilated intensive care patients. Today, these patients are sedated intravenously which leads to several challenges for both patients and care givers. Challenges that are solved by inhaled sedation. Based on an estimate of seven to eight million patients being sedated in intensive care due to mechanical ventilation globally, on average three to four days, Sedana Medical estimates the total market potential to SEK 20-30 billion, evenly distributed between the US, Europe and Asia. The company has initiated a process to obtain market approval in the US in 2024. Registration activities are also initiated in other markets outside the EU.
Sedana Medical has direct sales in the Nordic countries, Germany, Benelux, France, Great Britain and Spain as well as external distributors in parts of the rest of Europe, Australia, Canada, China, India, Israel, Japan, Mexico and South Korea. The company was founded in 2005 and is headquartered in Stockholm, Sweden, with medical device development in Ireland.