Q2 CommentsYTD Numbers: - YTD growth excluding Exelon was 7.4%. However, since we had some "one-time" sales last year due to Covid treatments, the non-Covid (and non-Exelon) sales grew 17.5%.
- Brazil, Colombia and Argentina all grew (by 32%, 18% and 33% respectively) YTD. Difficult to tell how much each of these grew without Exelon and Covid.
- "Rest of LATAM" essentially no YTD growth. There may have actually been some non-Covid growth here since - if I remember correctly - didn't Samira say that those Covid drugs were used in Mexico last year? Not sure about this. However, seems like Brazil, Colombia and Argentina are where meaningful growth is currently taking place for us.
- Relatively strong growth for Canada (41%) although from a small base. Nice progress regardless.
- Oncology grew 28% Q1/Q1 and 9% Q2/Q2 for a total of 17.3% YTD. Nice!
- Infectious Diseases excluding Covid sales grew 22.4% YTD. Nice!
- Other Specialty excluding Exelon grew -2.9%. This category is not growing (outside of Exelon, at least).
Settlement: We received a nice bonus for Q3... I wonder what this comes from, more specifically?
Section 25 – Subsequent Event
Knight executed a settlement agreement and general release (“Settlement Agreement”) with the former shareholders of GBT. The Company made certain claims (“Claims”) with respect to its indemnification rights under the purchase agreement for the acquisition of GBT. Under the Settlement Agreement, Knight will receive $5.9 million (US$4.6 million) as settlement for the Claims, which will be recorded in the Statement of Income.
Upfront Payments: Here's what's said about "Intangible Assets" in the balance sheet:
Increase mainly due to upfront payments and certain milestones mainly related to in-
licensing of AKYNZEO® and ALOXI® from Helsinn as well as fostamatinib from Rigel,
offset by amortization during the period
The increase has been $14.8M and amortization has been $22.3M YTD. That means we've paid somewhere close to $37M as upfront payments/milestones for these drugs.
Fund Investments: As far as I can tell, the fund investments that generated significant paper losses for the last two quarters are up by a total of about $1.5M so far this quarter.