Actelion outpaces expectations in first quarter of 2015

Actelion has announced its financial results for the first quarter of 2015, during which it achieved a better-than-expected performance on the back of strong drug sales.

The company achieved a product sales total of 515 million Swiss francs (360.33 million pounds), driven by encouraging uptake of the new therapy Opsmuit, which accounted for 95 million francs of the overall total.

On a constant exchange rate basis, the firm's sales total was up by 12 percent on the first quarter of last year, while its earnings performance also improved and several key clinical milestones were reached.

For example, Opsumit was approved for sale in Japan last month, while the regulatory processes for Uptravi in the US and EU are proceeding well. The company was also able to advance its immunology portfolio.

Dr Jean-Paul Clozel, chief executive officer of Actelion, said: "Based on the first quarter results, I am confident that we are going to surpass our full year targets and we are therefore increasing our guidance."

The firm recently announced that it will be repurchasing up to ten million shares over the next three years, based on its recent strong financial performance.