Actelion raises 2015 guidance

In its quarterly earnings announcement, Actelion Ltd. (SIX:ATLN) raised its 2015 guidance based on strong uptake of pulmonary arterial hypertension (PAH) drug Opsumit macitentan in 2Q15, slower than expected erosion in sales of PAH drug Tracleer bosentan, and lack of U.S. generic competition this year in the PAH market. The company now expects core earnings growth in the mid- to high teens at constant exchange rates and excluding benefits from reversals of U.S. rebates on its drugs. In April, it had guided for low double-digit growth.

Actelion reported CHF113 million ($117.6 million) in 2Q15 sales of Opsumit, up from CHF38 million ($39.6 million) in 2Q14, while sales of Tracleer declined to CHF301 million ($313.3 million) from CHF372 million ($387.3 million) in 2Q14. The company attributed the decline to Opsumit's availability, pricing pressure in Europe and increased generic competition. COO Otto Schwarz said on a conference call that Actelion does not expect generic versions of Tracleer or Ventavis iloprost to enter the U.S. market this year. Tracleer accounted for 61% of the company's product sales in 2Q15. ...