Photocure specialises in photodynamic therapy. Its bladder cancer imaging product is sold as Hexvix in Europe and Cysview in the US. Photocure handles the marketing in Nordic countries and the US, while Ipsen is its marketing partner in the EU.
Photocure is a commercial-stage Norwegian specialty pharmaceutical company that markets Hexvix/Cysview for diagnosing and managing bladder cancer. US sales are a key driver for the company and were up 48% in Q420. As of 1 October, Photocure has re-acquired the rights to Hexvix/Cysview in territories where Ipsen had been marketing the product (primarily the EU). Due to the re-acquisition the EU business saw 83% growth in Q420. Also, the EBITDA margin for the commercial franchise was 18.3%, compared to 2.7% in the same quarter in the prior year.
Photocure is a photodynamic therapy company focused on bladder cancer. As its products are typically a combination of a drug and a device, hurdles for generics are typically higher than with other therapeutics.