With the announcement of sales in Q3-2023 of 2.3mdkk, combined with preliminary guidance for Q4-23 of 1.7mDKK, STENOCARE is on track to all times high gross sales in 2023 of around 6.5mdkk. This is up from practically no sales in 2020 and very limited sales in 2021 and 2022. This should be seen in light of the following facts:
- Norway: Accounting wise, the one-off return of products from Norway (as announced on Nov 7, 2023), worth 2.1mdkk, dating back to 2022 will be adjusted for in 2023 sales, leaving the financially reported net sales 2.1mdkk lower than the actual sales for the year.
- Sales mix mostly Danish: The projected actual sales total of 6.5mdkk for 2023 originate from actual sales to all Stenocare markets, however predominantly relate to sales in Denmark of the two oil products, approved by the Danish Medicines Agency in 2022.
- Delayed 3rd product in Denmark: The record level sales are expected, despite an updated conservative assumption that the approval and first sale of the incoming third product in the Danish market will not materialize until early Q2 2024.
- Patients: Sell through to patients has increased dramatically quarter by quarter in 2023, which means that the risk of a repetition of the one-off return of products from Norway is reduced/eliminated.