Vernalis (VER)

Business description

Vernalis is a UK speciality pharma company with an FDA-approved, prescription-only cough cold treatment, Tuzistra XR; an FDA approved amoxicillin, Moxatag; and a late-stage US cough cold pipeline of four products.

Stock data

Market cap.£130.9m
Last close24.88p
High / Low (52 weeks)53.0p / 23.4p
Stock market listingLN
Forecast net cash (£m)49.6
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(2.5)(26.8)(52.8)
Relative *(3.5)(29.8)(59.9)

* % Relative to local index

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Company news

Vernalis plc

Fri, 10 Feb 2012 10:28:12 GMT

BRIEF-Vernalis Plc enters drug discovery collaboration with Servier

Mon, 06 Mar 2017 07:18:45 GMT

Is Vernalis plc The Perfect Partner For BTG plc In Your Portfolio?

Fri, 01 May 2015 10:50:08 GMT

Vernalis plc 91.2% Potential Upside Indicated by Panmure Gordon

Wed, 21 Dec 2016 10:14:43 GMT

Vernalis plc (VNLPY) Downgraded by Zacks Investment Research

Sat, 25 Mar 2017 15:22:30 GMT

Y/E Jun Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2015A 19.9 (8.9) (6.9) (1.0) N/A N/A
2016A 12.0 (23.9) (16.2) (3.4) N/A N/A
2017E 16.0 (30.9) (26.4) (4.6) N/A N/A
2018E 30.3 (30.3) (30.3) (5.4) N/A N/A

Last updated on 16/03/2017

Investment summary

Investment into addressing barriers to higher Tuzistra XR prescribing is starting to translate into higher prescription (Rx) rates. Mid-way through the second season post launch, both Rx and sales are showing positive trends and gathering momentum, although we lower our near-term Tuzistra XR net sales forecasts. Ongoing focus on improved salesforce effectiveness, which will provide a solid foundation for CCP-07 and CCP-08 launches, means the post-season update should better inform the future potential of Vernalis’s extended release Rx-only cough cold franchise.

Last updated on 15/03/2017

Industry outlook

Generic IR liquid products dominate the US Rx cough cold market, reflecting difficulties in formulating ER liquids that satisfy current FDA regulations; Tuzistra XR meets these standards. Favourable pricing and reimbursement of the five cough cold products in development by Vernalis would value the addressable market at up to $3.5bn.

Last updated on 02/03/2017

Key management

Peter Fellner, Chairman
Ian Garland, CEO
David Mackney, CFO

Company address

100 Berkshire Place
Wharfedale Road
Winnersh
Berkshire
RG41 5RD
United Kingdom
0118 938 0000
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