Swixx Biopharma SA

It has achieved this with the acquisition of Pharma Consulting Group S.A., the holding company of Laboratorios Biopas SA. This move significantly extends and transforms Swixx BioPharma’s footprint, adding $220 million in sales, over 300 employees, and therapeutic coverage in neurology, oncology, immunology, gastroenterology, rare diseases, and specialty. The acquisition of Biopas is immediately accretive, creating a compelling, single-stop, multi-continent partner for biopharma companies. It builds on Swixx BioPharma’s rapid organic growth, which saw the company recognized as one of Europe’s fastest-growing companies in 2024. Biopas, headquartered in Bogota, Colombia, is one of Latin America’s leading independent marketing and distribution companies for international biopharmaceutical firms, with a presence in 20 countries, including Argentina, Brazil, Chile, Colombia, and Mexico. The transaction is expected to close following relevant regulatory approvals anticipated in June-July 2024. Comprehensive Latin American coverage This acquisition follows the company’s entry into the Middle East region in September 2023, marking another significant step towards fulfilling Swixx’s mission to become the preferred partner for biopharma companies seeking indirect routes to launch their medicines. With Biopas’ comprehensive Latin American coverage, Swixx will now offer a compelling range of services across Central and Eastern Europe, CIS/Eurasia, MENA, and Latin America. The Biopas leadership team will remain at the helm of the combined company in Latin America, retaining the Biopas name for operations in the region. googletag.cmd.push(function () { googletag.display('text-ad1'); }); Jean-Michel Lespinasse, CEO of Swixx BioPharma, warmly welcomed the Biopas team into the Swixx family. He said: “We look forward to working closely with the brilliant, dedicated professionals that Biopas has attracted across Latam,” commented Lespinasse.  “We shall work passionately, with respect for Biopas’ personnel and entrepreneurial culture, to join the two companies and thereby create something greater than the sum of the two parts. “Let me also take this opportunity to salute Biopas’ Founders Pascal and Maria Fernanda Forget, who I am happy to announce will join us with the respective positions of executive regional general manager Latam and executive operations advisor.  The Forgets also become our shareholders and Pascal will take a role on Swixx BioPharma’s Board of Directors.” Creating a new breed of partner for global pharma Benoit Chastaing, non-executive board member of Swixx BioPharma and managing partner at Merieux Equity Partners added: “This represents a landmark move for Swixx.  In a stroke, we are creating a well-scaled, completely new breed of partner for global pharma – offering a genuine, single-stop shop with real presence in three continents. "This gives to multinational biopharma, for the first time, a capable, serious yet simple and easily managed strategic alternative to having direct presence outside of their top 20 global markets.” Pascal Forget, CEO and co-founder of Biopas, emphasized the shared mission and business model of both companies said he was confident that the merger will generate significant value for partners and patients in Latin America. Swixx BioPharma operates fully-owned subsidiaries across Central and Eastern Europe, Greece, Russia, several Eurasian countries, the Middle East, and now Latin America.

With the addition of $220 million in sales, over 300 employees and therapeutic coverage in Neurology, Oncology, Immunology, Gastroenterology, Rare Diseases and Specialty, acquisition extends & transforms Swixx BioPharma's footprint The acquisition is immediately accretive and creates a compelling, single-stop, multi-continent partner for biopharma companies The acquisition builds on Swixx BioPharma's rapid rate of organic growth; the company has been recognized as one of Europe's fastest growing companies in 2024 BAAR, Switzerland, May 22, 2024 /PRNewswire/ -- Swixx BioPharma AG, a global commercial platform dedicated to unlocking access to innovative medicines worldwide, announces today its strategic expansion into Latin America with the signature of an agreement to acquire 100% of the equity of Pharma Consulting Group S.A. the holding company of Laboratorios Biopas SA. With operational headquarters in Bogota, Colombia, Biopas is one of Latin America's leading independent marketing and distribution companies for international biopharmaceutical firms. Biopas has a presence in 20 countries, including Latam's "Top 5" markets of Argentina, Brazil, Chile, Colombia & Mexico. Closing of the transaction is expected after relevant regulatory approvals, anticipated in June-July 2024. Continue Reading FINANCIAL TIMES / STATISTA 1000 EUROPE’S FASTEST GROWING COMPANIES 2024 This acquisition follows on the entry of Swixx BioPharma into the Middle East region in September 2023 and marks another important step towards fulfilling Swixx's mission to become the preferred partner for biopharma companies seeking indirect routes to launch their medicines. Through Biopas' comprehensive Latam continental coverage, Swixx will now be able to provide a compelling offering covering Central and Eastern Europe, CIS/Eurasia, MENA and now Latin America. Biopas leadership team remains at the helm of the combined company in Latam. Biopas name will be retained for Latam operations, even as Biopas becomes part of the Swixx BioPharma group. Jean-Michel Lespinasse, CEO of Swixx BioPharma, warmly welcomed the Biopas team into the Swixx BioPharma family: "we look forward to working closely with the brilliant, dedicated professionals that Biopas has attracted across Latam," commented Lespinasse. "We shall work passionately, with respect for Biopas' personnel and entrepreneurial culture, to join the two companies and thereby create something greater than the sum of the two parts." "Let me also take this opportunity to salute Biopas' Founders Pascal and Maria Fernanda Forget, who I am happy to announce will join us with the respective positions of Executive Regional General Manager Latam and Executive Operations Advisor. The Forgets also become our shareholders and Pascal will take a role on Swixx BioPharma's Board of Directors." Benoit Chastaing, Swixx BioPharma's Non-Executive Board Member and Managing Partner at Merieux Equity Partners (Swixx Investor) enthused that "this represents a landmark move for Swixx. In a stroke, we are creating a well-scaled, completely new breed of partner for global pharma – offering a genuine, single-stop shop with real presence in three continents. This gives to multinational biopharma, for the first time, a capable, serious yet simple (and easily managed) strategic alternative to having direct presence outside of their top 20 global markets." Pascal Forget, CEO and co-founder of Biopas, commented: "We welcome the opportunity to join the Swixx BioPharma group and contribute to the development of a broad and distinctive interregional platform. We strongly believe that by joining forces with Swixx, we will be better placed to fulfill our mission to bring innovative medicines to the Latin American population. Both companies have similar missions and business models, and their combination will generate significant value for our partners and our patients. We will continue to provide efficient solutions and unlock access in the region, while nurturing long-term relationships with all Biopas stakeholders." About Swixx BioPharma Swixx BioPharma operates fully owned subsidiaries across Central and Eastern Europe, Greece, Russia and several Eurasian countries including Belarus, Kazakhstan, Uzbekistan, the Middle East and now Latin America. Swixx BioPharma has over 1,300 employees and sales likely to exceed a billion Euros in 2024. The company is one of the fastest-growing, largest, independent, intercontinental commercial platforms for the biopharmaceutical industry. Swixx has gathered outstanding rare disease, oncology-hematology, specialty, vaccines and self-medication talent under one roof. For more information about Swixx BioPharma, please visit: . About Laboritorios Biopas Group Biopas is a leading pharmaceutical company in Latin America, specializing in the in-licensing, marketing, and sale of cutting-edge specialty pharmaceutical products. Our mission is to address unmet medical needs and facilitate access to innovative medicines. We provide efficient solutions to international pharmaceutical companies seeking to tap into sales opportunities across the region. Operating throughout Latin America with fully owned subsidiaries, we hold leading positions in CNS, Immunology, Dermatology, Gastroenterology, Oncology, and Rare Disease biopharmaceuticals. Our anticipated sales for 2024 are approximately $220 million, supported by a dedicated team of over 300 employees. Swixx BioPharma Investor and partner inquiries: Jean-Michel Lespinasse, CEO [email protected] Stuart Swanson, Head of Corporate Development [email protected] Swixx BioPharma media inquiries: Vedrana Sokac Brataljenovic, Public Affairs Director [email protected], Tel: +385 1 425 6086 Biopas inquiries: Pascal Forget, Executive Regional General Manager Latam [email protected] Photo - Logo -

INBRIJA® (levodopa inhalation powder) Q3 2023 U.S. net revenue of $8.1 million; 4% increase over Q3 2022 AMPYRA® (dalfampridine) Q3 2023 net revenue of $15.7 million; 26% decrease over Q3 2022 INBRIJA ex-U.S. revenue of $1.4 million; FAMPYRA royalties of $2.5 million Biopas Laboratories files for approval of INBRIJA in six Latin American countries PEARL RIVER, N.Y.--(BUSINESS WIRE)-- Acorda Therapeutics, Inc. (Nasdaq: ACOR) today provided a business update and reported its financial results for the third quarter ended September 30, 2023. “We were pleased to see a 32% increase in new INBRIJA prescription requests in Q3 2023 over Q3 2022. New prescription requests have increased by 38% in the first three quarters of 2023 versus the same period in 2022. This is an encouraging sign for the long-term growth of the brand, and we are reiterating our 2023 INBRIJA guidance,” said Ron Cohen, M.D., Acorda’s President and Chief Executive Officer. “We are also delighted that Biopas has filed for the approval of INBRIJA in six countries in Latin America and expects to have up to five approvals in 2024. They also expect to Chile by the end of 2023 and in Brazil and Mexico in 2024.” Third Quarter 2023 Financial Results For the quarter ended September 30, 2023, the Company reported INBRIJA worldwide net revenue of $9.5 million, a 7% increase, of which $8.1 million was derived from sales in the U.S., a 4% increase compared to the same quarter in 2022. The Company also reported ex-U.S. INBRIJA net revenue of $1.4 million in the third quarter related to sales in Spain. For the quarter ended September 30, 2023, the Company reported AMPYRA net revenue of $15.7 million, a 26% decrease compared to $21.1 million for the same quarter in 2022. AMPYRA net revenue for the first three quarters of 2023 decreased by 17% over the same period in 2022. Additionally, for the quarter ended September 30, 2023, the Company reported FAMPYRA royalty revenues of $2.5 million, a 3% decrease compared to the same quarter in 2022. As previously disclosed, AMPYRA lost its exclusivity and generics entered the market in 2018. The Company expects AMPYRA revenue to continue to decline. Research and development (R&D) expenses for the quarter ended September 30, 2023 were $1.2 million, compared to $1.4 million for the same quarter in 2022. Sales, general and administrative (SG&A) expenses for the quarter ended September 30, 2023 were $23.2 million, compared to $23 million for the same quarter in 2022. Total operating expenses for the quarter ended September 30, 2023 was $30.2 million, compared to $38.5 million for the same quarter in 2022. Non-GAAP adjusted operating expenses (adjusted OPEX) was $24.4 million for the quarters ended September 30, 2023 and September 30, 2022. This quarterly non-GAAP measure, more fully described below under “Non-GAAP Financial Measures,” excludes costs of goods sold, amortization of intangible assets, change in fair value of derivative liability, and change in fair value of acquired contingent liability. A reconciliation of the GAAP operating expenses to non-GAAP operating expenses is included with the attached financial statements. Benefit from income taxes for the quarter ended September 30, 2023 was $1.1 million, compared to a provision for income taxes of $1.4 million for the same quarter in 2022. The Company reported a GAAP net loss of $8.9 million for the quarter ended September 30, 2023, or a net loss of ($7.16) per share on both a basic and diluted basis. Net loss in the same quarter of 2022 was $13.9 million, or a net loss of ($11.17) per share on both a basic and diluted basis. At September 30, 2023, the Company had cash, cash equivalents, and restricted cash of $33.6 million, compared to $44.7 million at year end 2022. 2023 Financial Guidance For the full year 2023, the Company reaffirms INBRIJA U.S. net revenue guidance to be $34-$38 million, Adjusted OPEX guidance to be $93-$98 million, ending cash balance guidance to be $39-44 million, and AMPYRA net revenue guidance to be $65-$70 million. Webcast and Conference Call The Company will host a Webcast/Conference Call in conjunction with its third quarter update and financial results today at 4:30 p.m. ET. To participate in the Webcast, please use the following registration link: If you register for the Webcast, you will have the opportunity to submit a written question for the Q&A portion of the presentation. After you have registered, you will receive a confirmation email with the Webcast details. On the day of the Webcast, you will receive an email 2 hours prior to the start of the Webcast with the link to join. The presentation will be available on the Investors section of . A replay of the call will be available from 8:30 p.m. ET on November 13, 2023, until 11:59 p.m. ET on December 12, 2023. To access the replay, please dial 1 866 813 9403 (domestic) or +44 204 525 0658 (international); access code 197086. The archived webcast will be available in the Investor Relations section of the Acorda website at . Non-GAAP Financial Measures This press release includes financial results prepared in accordance with accounting principles generally accepted in the United States (GAAP) and also certain historical and forward-looking non-GAAP financial measures. Non-GAAP financial measures are not an alternative for financial measures prepared in accordance with GAAP, and the calculation of the non-GAAP financial measures included herein may differ from similarly titled measures used by other companies. The Company believes that the presentation of these non-GAAP financial measures, when viewed in conjunction with actual GAAP results, provides investors with a more meaningful understanding of our ongoing and projected operating performance because it excludes (i) certain expenses that are not routine to the operation of our business, (ii) non-cash charges that are substantially dependent on changes in the market price of our common stock, and (iii) other items that are not ascertainable at the present time. We believe these non-GAAP financial measures help indicate underlying trends in the Company’s business and are important in comparing current results with prior period results and understanding expected operating performance. Also, management uses these non-GAAP financial measures to establish budgets and operational goals, and to manage the Company’s business and evaluate its performance. In addition, management believes that adjusted OPEX is important in evaluating the administrative costs of operating the Company’s business. Adjusted OPEX includes research and development expenses and selling, general, and administrative expenses, and excludes (i) costs of goods sold, (ii) amortization of intangible assets, (iii) change in fair value of derivative liability, and (iv) change in fair value of acquired contingent liability. We are unable to reconcile our guidance for this non-GAAP measure to GAAP due to the forward-looking nature of the adjustments that are needed to determine this information, which includes information regarding future compensation charges, future changes in the market price of our common stock, and changes in the fair value of derivative and contingent liabilities, none of which are available at this time. About Acorda Therapeutics Acorda Therapeutics develops therapies to restore function and improve the lives of people with neurological disorders. INBRIJA® is approved for intermittent treatment of OFF episodes in adults with Parkinson’s disease treated with carbidopa/levodopa. INBRIJA is not to be used by patients who take or have taken a nonselective monoamine oxidase inhibitor such as phenelzine or tranylcypromine within the last two weeks. INBRIJA utilizes Acorda’s innovative ARCUS® pulmonary delivery system, a technology platform designed to deliver medication through inhalation. Acorda also markets the branded AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg. Forward-Looking Statements This press release includes forward-looking statements. All statements, other than statements of historical facts, regarding management's expectations, beliefs, goals, plans or prospects should be considered forward-looking. These statements are subject to risks and uncertainties that could cause actual results to differ materially, including: we may not be able to successfully market INBRIJA, AMPYRA, or any other products that we may develop; our ability to attract and retain key management and other personnel, or maintain access to expert advisors; our ability to raise additional funds to finance our operations, repay outstanding indebtedness or satisfy other obligations, and our ability to control our costs or reduce planned expenditures and take other actions which are necessary for us to continue as a going concern; risks related to the successful implementation of our business plan, including the accuracy of our key assumptions; risks related to our corporate restructurings, including our ability to outsource certain operations, realize expected cost savings and maintain the workforce needed for continued operations; risks associated with complex, regulated manufacturing processes for pharmaceuticals, which could affect whether we have sufficient commercial supply of INBRIJA or AMPYRA to meet market demand; our reliance on third-party manufacturers for the production of commercial supplies of INBRIJA and AMPYRA; third-party payers (including governmental agencies) may not reimburse for the use of INBRIJA or AMPYRA at acceptable rates or at all and may impose restrictive prior authorization requirements that limit or block prescriptions; reliance on collaborators and distributors to commercialize INBRIJA and AMPYRA outside the U.S.; our ability to satisfy our obligations to distributors and collaboration partners outside the U.S. relating to commercialization and supply of INBRIJA and AMPYRA; competition for INBRIJA and AMPYRA, including increasing competition and accompanying loss of revenues in the U.S. from generic versions of AMPYRA (dalfampridine) following our loss of patent exclusivity; the ability to realize the benefits anticipated from acquisitions because, among other reasons, acquired development programs are generally subject to all the risks inherent in the drug development process and our knowledge of the risks specifically relevant to acquired programs generally improves over time; the risk of unfavorable results from future studies of INBRIJA (levodopa inhalation powder) or from other research and development programs, or any other acquired or in-licensed programs; the occurrence of adverse safety events with our products; the outcome (by judgment or settlement) and costs of legal, administrative or regulatory proceedings, investigations or inspections, including, without limitation, collective, representative or class-action litigation; failure to protect our intellectual property, to defend against the intellectual property claims of others or to obtain third-party intellectual property licenses needed for the commercialization of our products; and failure to comply with regulatory requirements could result in adverse action by regulatory agencies. These and other risks are described in greater detail in our filings with the Securities and Exchange Commission. We may not actually achieve the goals or plans described in our forward-looking statements, and investors should not place undue reliance on these statements. Forward-looking statements made in this press release are made only as of the date hereof, and we disclaim any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, except as may be required by law. Financial Statements Acorda Therapeutics, Inc. Condensed Consolidated Balance Sheet Data (in thousands) September 30, December 31, 2023 2022 (unaudited) Assets Cash and cash equivalents $32,468 $37,536 Restricted cash - short term 861 6,884 Trade receivable, net 11,977 13,866 Other current assets 10,480 11,077 Inventories, net 17,942 12,752 Property and equipment, net 2,210 2,603 Intangible assets, net 282,006 305,087 Restricted cash - long term 255 255 Right of use assets, net 4,496 5,287 Other assets 3,649 248 Total assets $366,344 $395,595 Liabilities and stockholders' equity Accounts payable, accrued expenses and other current liabilities $42,139 $33,873 Current portion of lease liability 1,578 1,545 Current portion of contingent consideration 2,577 2,532 Convertible senior notes 181,043 167,031 Non-current portion of acquired contingent consideration 30,223 38,668 Non-current portion of lease liability 3,468 4,341 Deferred tax liability 38,544 44,202 Other long-term liabilities 7,815 9,781 Total stockholders' equity 58,957 93,622 Total liabilities and stockholders' equity $366,344 $395,595 Acorda Therapeutics, Inc. Consolidated Statements of Operations (in thousands, except per share amounts) (unaudited) Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Revenues: Net product revenues $25,179 $29,964 $69,863 $76,023 Royalty revenues 2,502 3,047 9,717 10,573 License revenue 34 500 68 500 Total revenues 27,715 33,511 79,648 87,096 Costs and expenses: Cost of sales 3,387 11,005 9,685 25,772 Research and development 1,207 1,383 4,143 4,602 Selling, general and administrative 23,152 22,997 67,492 80,002 Amortization of intangible assets 7,691 7,691 23,073 23,073 Change in fair value of derivative liability — — — (37) Change in fair value of acquired contingent consideration (5,203) (4,576) (7,118) (10,709) Other operating expense, net - - - - Total operating expenses 30,234 38,500 97,275 122,703 Operating loss $(2,519) $(4,989) $(17,627) $(35,607) Other income (expense), net: Interest expense, net (7,827) (7,448) (23,020) (22,463) Other income, net 403 (1) 496 1,249 Total other expense, net (7,424) (7,449) (22,524) (21,214) Loss before income taxes (9,943) (12,438) (40,151) (56,821) Benefit from (provision for) income taxes 1,055 (1,416) 5,058 (28,237) Net loss $(8,888) $(13,854) $(35,093) $(85,058) Net loss per common share - basic $(7.16) $(11.17) $(28.25) $(97.66) Net loss per common share - diluted $(7.16) $(11.17) $(28.25) $(97.66) Weighted average common shares - basic 1,242 1,240 1,242 871 Weighted average common shares - diluted 1,242 1,240 1,242 871 Acorda Therapeutics, Inc. Adjusted Operating Expenses Reconciliation (in thousands, except per share amounts) (unaudited) Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Operating Expenses per Income Statement (GAAP) $30,234 $38,500 $97,275 $122,703 Adjustments: Cost of goods sold (3,387) (11,005) (9,685) (25,772) Amortization of intangible assets (7,691) (7,691) (23,073) (23,073) Change in fair value of derivative liability - - - 37 Change in fair value of acquired contingent consideration 5,203 4,576 7,118 10,709 Total adjustments (5,875) (14,120) (25,640) (38,099) Adjusted operating expenses (non-GAAP) $24,359 $24,380 $71,635 $84,604