News and Announcements
MedAdvisor FY16 Preliminary Results – Growth in PEP Customers, Increase of 81% in Orders Received for PEP
- Published August 26, 2016 3:55PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
26th August 2016, ASX Announcement
Highlights
- Revenue from pharmacy subscriptions and patient engagement programs (PEP) has grown by ~24% to $1.43 million, driven primarily by pharmacy subscription growth
- Total revenue of $1.76m is 7% lower compared to FY15 which included the final licence fee payment $500,00 under the Actavis agreement
- Gross margin from pharmacy subscriptions increased to 71%, from 43% in the prior corresponding period
- Substantial progress reported in key operational metrics:
- Over 180,000 patients using the platform, a 133% increase on FY15
- Expansion of pharmacy network by 36% on FY15, to over 1,600 pharmacies
- Growth in PEP customers, have grown to 7 manufacturers, including leading pharmaceutical companies GSK, UCB, Astra Zeneca, Novartis and Bristol Myer Squibb, with revenue uplift to be recognised largely in FY17
- An increase of 81% in orders received for PEP compared to FY15
- Investment made in marketing and sales teams and initiatives has strongly positioned the Company for further domestic growth and international expansion
MedAdvisor Limited (ASX: MDR, the Company), Australia’s leading digital medication adherence company, has today released its Appendix 4E and is pleased to present its maiden Preliminary Financial Report for the 12 month period ended 30 June 2016.
To read the full announcement, please click on the button below.
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