Nuvo Pharmaceuticals, a Canada-based leading healthcare company featuring a wide range of commercial products, has announced the Q1 2020 financial results of the company on Monday May 11, 2020. According to the details released by the company, the total revenue of the company increased up to 11% and stood at 18.9 million USD, as compared to 17.1 million USD for the previous three months.
The company’s two commercial products Cambia and Blexton have collected total revenue up to 6.0 million USD, which has increased 94$ as compared to the past three months.
The company has further said that it had made the principal loan payment of 11.5 million USD in the three months ended March 31, 2020.
The adjusted EBTIDA of the company stood at 8.0 million USD, which increased up to 52% as compared to the past three months ended March 31, 2020.
Chief Executive Officer and President of Nuvo Pharmaceuticals, Jesse Ledger said, “The COVID-19 pandemic has been the overriding focus of the world over the last couple of months. During this time, Nuvo continues to operate as an essential business. We have made necessary changes so we can continue to operate and supply our healthcare products to global partners, wholesalers, pharmacies, and ultimately patients, while ensuring our employees remain safe and healthy.”
“Despite the challenges presented by the COVID-19 pandemic, we are making progress in achieving a number of anticipated milestones in the second quarter, including the launch of Resultz in Germany and the submission of the Blexten pediatric dossier to Health Canada, and we continue to prepare for the Canadian commercial launches of Suvexx and Neovisc Plus and Neovisc One later this year. Furthermore, Blexten and Cambia continued their strong performance in the first quarter,” Jesse Ledger further added.