UPPSALA, Sweden, July 22, 2004 (PRIMEZONE) -- Q-Med:
- Turnover during the first six months of 2004 amounted to SEK 401.1 (282.7) million, which is an increase of 42 percent.
- Operating income amounted to SEK 161.2 (457.0) million. Adjusted for items affecting comparability, it amounted to SEK 11.6 (-5.2) million.
- Sales during the second quarter increased by 57 percent to SEK 221.4 (141.4) million. Operating income during this period amounted to SEK 163.7 (-21.3) million. Adjusted for items affecting comparability, operating income amounted to SEK 14.1 (-9.9) million during the second quarter.
- Net income after tax for the first six months amounted to SEK 167.4 (463.9) million, and to SEK 163.6 (-12.5) million for the second quarter.
- Earnings per share amounted to SEK 6.75 (18.69).
- New agreement entered into with Medicis, which can generate at least USD 80 million. The agreement concerns RESTYLANE SubQ in the USA and Canada.
- Q-Med has received a payment of USD 19.4 million from the previous RESTYLANE agreement with Medicis.
- Preliminary data from the study on DUROLANE for the knee joint obtained.
- Action concerning alleged infringement of patent has been filed by Inamed.
RR 20 has been followed in the drawing up of this interim report. The same accounting principles and methods of calculation have been used in the drawing up of this interim report as in the latest Annual Report. The application of RR29, Employee benefits, which came into force as of January 1, 2004, does not entail any changes as regards valuation and classification. No further differences between current accounting principles and IFRS have been identified besides those which were stated in the Annual Report for 2003.
This report has not been the subject of review by the company's auditors.
NASHA, DUROLANE, ZUIDEX, IMPLACER, DEFLUX and all the products within the RESTYLANE family are trademarks that belong to Q-Med.
Note: Q-Med operates under the name of Q-Med Scandinavia, Inc. in the USA.
Coming reports: Interim report January-September 2004 October 28 Report on operations 2004 February 2005
Q-Med AB (publ) Seminariegatan 21, SE-752 28 Uppsala, Sweden. Corporate identity number 556258-6882. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01 info@q-med.com www.q-med.com
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