Santhera Pharmaceuticals Reports Strong Half-Year Revenue Growth and Operational Progress
News related to:Santhera Pharmaceuticals · 2 min read
Santhera Pharmaceuticals, a Swiss specialty pharmaceutical company, has reported strong financial and operational progress for the first half of 2026. The company's total revenue increased by 101% to CHF 48.3 million, driven by a 48% rise in product sales to CHF 17.2 million and a significant increase in milestone payments to CHF 29.1 million, primarily due to a USD 30 million (CHF 24.2 million) cash upfront payment received under a licensing agreement with Nxera.
The company's AGAMREE® (vamorolone), a dissociative corticosteroid for the treatment of Duchenne muscular dystrophy (DMD), continues to gain traction. AGAMREE® sales, including partner sales, have exceeded USD 175 million on a four-consecutive-quarter basis in Q2 2026, triggering a USD 20 million (CHF 16.3 million) sales milestone payment. This milestone payment was recognized in the cost of sales.
Santhera's operational expenses decreased by 8.4% to CHF 25.0 million, primarily due to lower development costs. The operating loss narrowed significantly to CHF 6.6 million, compared to CHF 35.4 million in the same period last year. Cash and cash equivalents increased to CHF 41.8 million at June 30, 2026, from CHF 22.4 million at December 31, 2025.
Santhera has also seen continued progress in other mid-sized direct European markets. In Switzerland, AGAMREE® was approved in January 2026, and in Luxembourg, the company secured pricing and reimbursement in August 2026, marking the first Benelux market to secure reimbursement. Santhera is exploring potential routes to accelerate access for French patients, with a commercial launch not expected before 2028.
The company's management team will host a briefing for analysts and investors via a webcast at 14:00 CEST (08:00 EDT) on September 30, 2026. The conference call will be held at 14:00 CEST / 13:00 BST / 08:00 EDT.
Santhera's full-year 2026 guidance remains unchanged, with total revenue expected to be in the range of CHF 80-90 million. The company expects cash and cash equivalents to remain broadly stable at 30 September levels through the end of the year, with a decline in cash during the first half of 2027 due to the movement of inventory purchases and a mandatory German price reduction effective from Q1 2027. However, the company expects to return to cash generation in the second half of the year.