Actelion Pharmaceuticals Ltd: Actelion on track to deliver double digit LC core earnings growt

  Actelion Pharmaceuticals Ltd: Actelion on track to deliver double digit LC
                             core earnings growt

Actelion Pharmaceuticals Ltd / Actelion on track to deliver double digit LC
core earnings growt . Processed and transmitted by Thomson Reuters ONE. The
issuer is solely responsible for the content of this announcement.

ALLSCHWIL/BASEL, SWITZERLAND - 17 October 2013- Actelion Ltd (SIX: ATLN) today
announced financial results for the first nine months of 2013.



OPERATING HIGHLIGHTS

  *Macitentan (Opsumit^®) - US regulatory decision imminent
  *Ceptaris acquisition finalized - US Valchlor launch in Q4 2013
  *Veletri (epoprostenol for injection) launched in Japan, Canada, UK and NL
  *Phase III with cadazolid in Clostridium difficile-associated diarrhea
    (CDAD) initiated

FINANCIAL HIGHLIGHTS

  *Product sales of CHF 1,322 million, an increase of 4% in local currencies
  *Core earnings of CHF 496 million, an increase of 14% in local currencies
  *Guidance confirmed - FY core earnings growth to cross into double digits
    in local currencies
  *Core EPS of CHF 3.60, an increase of 21% in local currencies
  *CHF 800 million share repurchase program completed

                           Results Results Variance Variance
                            9M 2013 9M 2012   in CHF    in LC
In CHF million
(except for per share data)
Product sales                 1,322   1,299       2%       4%
Core earnings                   496     444      12%      14%
Operating income                397     359      11%      14%
Core EPS (fully diluted)       3.60    3.09      17%      21%



As of 30  September 2013, Actelion  had cash  and cash deposits  of CHF  1,398 
million (of which CHF 616 million is restricted). In addition, Actelion  holds 
9.4 million treasury shares.



Jean-Paul Clozel, MD, Chief Executive  Officer, commented: "I am very  pleased 
with the  progress Actelion  is  making in  pursuing  its strategy  for  value 
creation, with Core EPS local currency growth at 21 percent for the first nine
months of  2013.  We  are  maintaining  and  growing  our  Pulmonary  Arterial 
Hypertension (PAH) franchise,  as evidenced  by increasing  product sales  and 
macitentan (Opsumit) nearing the end of  the regulatory review period in  both 
the United States and the European Union. The Phase III program for  selexipag 
in PAH also is on track to report data in mid-2014."

Jean-Paul Clozel  concluded:  "With  the  acquisition  of  Ceptaris,  we  have 
broadened our product portfolio.  Together with the  Phase III initiation  for 
our new antibiotic agent  cadazolid, we are  advancing in creating  additional 
product franchises."

Otto Schwarz, Chief Operating Officer, commented: "Once regulatory approval is
obtained, Actelion's  commercial organization  is fully  prepared to  globally 
make macitentan (Opsumit) available to patients and their care givers.  Whilst 
we prepared for the  imminent macitentan launch, we  have continued to  manage 
our existing business, with  product sales of 1,322  million Swiss Francs,  an 
increase of four  percent in local  currencies compared to  the same period  a 
year ago. This  performance was achieved  in what has  remained a  challenging 
environment."

André C. Muller, Chief Financial Officer, added: "The solid performance during
the first nine months  of 2013 is  a testimony to  the commitment the  company 
made to shareholder  value creation. We  delivered good product  sales and  we 
kept our cost base at  a lower level, ahead  of product launches and  starting 
new clinical programs.  We are,  therefore, well on  track to  meet our  local 
currency guidance of core earnings growth crossing into double digit territory
for the full year 2013."

Guidance (in  local currencies)  also  remains unchanged  for the  coming  two 
years. For 2014, Actelion  expects core earnings  to be at  least at the  same 
level for  2014 as  for the  current year  and for  2015, earnings  growth  is 
expected to be at least in the single-digit percentage range.

André C. Muller  concluded: "Actelion  continues to  generate strong  cashflow 
from operations,  giving  us  significant  financial  flexibility  to  further 
strengthen our business,  as we  have done with  the 226  million Swiss  Franc 
acquisition of Ceptaris in September 2013. Last but not least, the strong cash
generation this year also  enabled us to return  530 million Swiss Francs  to 
shareholders through dividends and the recently concluded share buyback."

Ready for Opsumit

Over the  past  few months,  Actelion  has  prepared the  organization  for  a 
successful global  market introduction  of macitentan  (Opsumit). Actelion  is 
fully leveraging its existing  infrastructure and experience  in the field  of 
Pulmonary Arterial Hypertension.

Regulatory filings are ongoing in the United States and the European Union  as 
well as in  Canada, Switzerland and  other territories worldwide.  In the  US, 
Health Authorities are expected to render a  decision by the PDUFA date of  19 
October 2013. In Europe, approval could occur in early 2014.

At the end  of August  2013, the  long-term outcome  data -  upon which  these 
regulatory filings are based  - were published in  the New England Journal  of 
Medicine (Pulido T et al. Macitentan and Morbidity and Mortality in  Pulmonary 
Arterial Hypertension. N Engl J Med 2013;369:809-18.).

Additional data presentations have been made at numerous medical  conferences, 
such as in September at the European Society of Cardiology (ESC) and  European 
Respiratory Society (ERS). Both publications  and presentations were met  with 
strong interest by the medical community.

Acquisition of Ceptaris Therapeutics, Inc.

In  mid-September  2013,  Actelion  concluded  the  acquisition  of   Ceptaris 
Therapeutics, Inc. following approval by  the US Food and Drug  Administration 
(FDA) of  Valchlor^® (mechlorethamine)  gel 0.016%  for topical  treatment  of 
stage IA and  IB mycosis  fungoides-type cutaneous T-cell  lymphoma (CTCL)  in 
patients who have received prior skin-directed therapy.

Valchlor (mechlorethamine) gel 0.016% is  indicated for the topical  treatment 
of stage IA and IB mycosis fungoides-type cutaneous T-cell lymphoma (CTCL)  in 
patients who  have  received  prior skin-directed  therapy.  Valchlor  gel  is 
applied topically  once-a-day  and dries  on  the skin.  The  availability  of 
Valchlor allows US  physicians to treat  mycosis fungoides type  CTCL with  an 
FDA-approved  formulation   of  topical   mechlorethamine.  In   addition   to 
consistent, controlled manufacturing processes, Valchlor will be provided with
labeling that includes data and instructions for correct use, to help  achieve 
the best possible clinical results.

Actelion will make Valchlor^® available in the US during the fourth quarter of
2013, using a dedicated sales force and will evaluate the opportunity  outside 
the US, before filing for registration in other regions.

Preliminary purchase price  allocation resulted in  an increase in  intangible 
assets of  USD  378 million,  goodwill  of USD  109  million, a  deferred  tax 
liability of USD 151 million and a contingent consideration of USD 87 million.

PRODUCT SALES FOR 9M 2013



In CHF million      Results Results Variance Variance
                    9M 2013 9M 2012   in CHF     in LC
Tracleer              1,138   1,131       1%        3%
Ventavis                 83      85      -2%       -2%
Veletri                  25      18      42%       47%
Zavesca                  73      62      17%       17%
Others                    3       2      21%       25%
Total product sales   1,322   1,299       2%        4%



PRODUCT SALES REVIEW

Tracleer^® (bosentan) sales amounted to CHF  1,138 million for the first  nine 
months of 2013, an  increase of 3%  in local currencies  compared to the  same 
period in 2012. This performance was mainly  driven by a 5% increase in  units 
shipped, impacted by some phasing of wholesaler orders and positive pricing in
the US.

Ventavis^® (iloprost) had sales in the US of CHF 83 million for the first nine
months of 2013,  a decrease of  2% in  local currencies compared  to the  same 
period in  2012. Ventavis  continues to  be impacted  by competitive  pressure 
while benefiting from positive price movement.

Veletri^® (epoprostenol for injection)  sales amounted to  CHF 25 million  for 
the first nine months of 2013, an increase of 47% in local currencies compared
to the same period in  2012. In the United  States, Veletri continues to  gain 
share in the  epoprostenol market.  In Japan, Veletri  has performed  strongly 
since its market introduction in late June 2013.

Zavesca^® (miglustat) sales  amounted to  CHF 73  million for  the first  nine 
months of 2013, an increase  of 17% in local  currencies compared to the  same 
period in  2012. This  performance was  driven predominantly  by strong  ex-US 
patient demand  in  the Niemann-Pick  Type  C indication  and  positive  price 
movement in the US.

CORE OPERATING EXPENSES AND CORE EARNINGS



In CHF million           Results Results Variance Variance
(except per share data)  9M 2013 9M 2012   In CHF    In LC
Product Sales              1,322   1,299       2%       4%
Core operating expenses      827     855      -3%      -1%
Core Earnings                496     444      12%      14%
Core EPS (fully diluted)    3.60    3.09      17%      21%

Cost of sales for the first nine  months of 2013 amounted to CHF 154  million, 
an increase of 5 % in local currencies compared to the same period in 2012.

Core  R&D  expenses,  which  exclude  stock-based  compensation  expense   and 
amortization and depreciation, were CHF251 million for the first nine  months 
of 2013, a decrease of 12% in local currencies compared to the same period  of 
2012 as a result of the cost savings initiative.

Core  SG&A   expenses,  which   exclude  stock-based   compensation   expense, 
amortization, depreciation and  the impact of  doubtful debt provisions,  were 
CHF 421 million compared to CHF 417 million in the first nine months of  2012, 
an increase of 4% in local currencies.

Core earnings amounted to CHF  496 million for the  first nine months of  2013 
compared to CHF 444 million during same period in 2012, an increase of 14%  in 
local currencies driven by solid underlying operational performance.

Fully diluted core earnings per share were CHF 3.60 for the first nine  months 
of 2013, an increase of 21% in local currencies compared to the same period of
2012.

Starting in Q4 2013, Actelion expects a moderate increase in R&D expenses with
the start of new clinical programs, such as new indications for macitentan and
the Phase  III  program for  the  novel  oral antibiotic  agent  cadazolid  in 
patients with  Clostridium  difficile-associated diarrhea  (CDAD).  Additional 
spending for the global launch of  macitentan will be limited, as the  company 
is fully leveraging its  existing infrastructure and knowhow  in the field  of 
Pulmonary Arterial Hypertension.

OPERATING EXPENSES AND OPERATING INCOME



In CHF million     Results Results Variance Variance
                   9M 2013 9M 2012   in CHF    in LC
Total NetRevenue     1,324   1,303       2%       4%
Operating expenses     927     944      -2%       0%
Operating Income       397     359      11%      14%



Total operating expenses  were CHF 927  million for the  first nine months  of 
2013 compared to CHF 944 million during the same period in 2012, a decrease of
2%.

Research and Development (R&D) expenses were CHF 287 million in the first nine
months of 2013, a decrease of 14% compared to the same period of 2012 (CHF 334
million).

Selling, General and Administrative expenses  (SG&A) were CHF 442 million  for 
the first nine months of 2013, an  increase of 2% compared to CHF 432  million 
during the  same period  in 2012,  as the  company prepared  for the  imminent 
launch of Opsumit^®.

Operating income  for  the first  nine  months of  2013  was CHF  397  million 
compared to CHF 359 million for the  same period in 2012, an increase of  11%. 
In local currencies operating income increased by 14%.



NET INCOME

In CHF million          Results Results Variance Variance
(except per share data) 9M 2013 9M 2012   in CHF    in LC
Operating Income            397     359      11%      14%
Financial expense            40      41      -3%       na
Tax expense                 52      49       na       na
Net Income                  304     268      13%      17%
Fully diluted EPS          2.65    2.26      17%      21%



Financial expense amounted to CHF 40  million during the first nine months  of 
2013, compared to CHF 41 million for the same period of 2012. This expense  is 
mainly related to the  interest on the litigation  provision (CHF 30  million) 
and the interest expense on the CHF 235 million bond (CHF 9 million).

Tax expense amounted to CHF 52 million,  which translates into a tax rate  for 
the first nine months of 2013 of 14.7%.

Net income amounted to CHF 304 million  for the first nine months of 2013  (9M 
2012: CHF268million).  This represents  an increase  of 13%  in Swiss  Franc 
terms or 17% in local currencies.

US GAAP earnings per share on a  fully diluted basis in the first nine  months 
of 2013 increased to CHF 2.65 from CHF 2.26 in the same period last year.

Completion of share buyback program

In August 2013, the company finished the CHF 800 million share buyback program
announced in October 2010.

In 2013, the company  bought back shares  for a total of  CHF 417 million.  In 
total, Actelion  repurchased 17.1  million  of its  own  shares via  a  second 
trading line on the SIX Swiss Exchange for an average purchase price per share
of CHF 46.85.

This buyback represented 13.3% of the issued  shares at the time of the  start 
of the share repurchase in October 2010.

The Ordinary General Meeting 2014 will decide upon a capital reduction through
cancellation of the remaining 6.1  million repurchased shares, which have  not 
yet been cancelled.



NON-GAAP TO US GAAP RECONCILIATION FOR 9M 2013



In CHF million                        9M 2013 9M 2012
Product sales                           1,322   1,299
Core operating expenses                  -827    -855
Core earnings excluding impact of DDP     496     444
Movement in doubtful debt provision        10      22
Contract revenues                           1       5
Stock option expenses                     -37     -36
Amortization and depreciation             -58     -62
Arbitration settlement                    -13       
Auxilium milestone payment                        -9
Restructuring costs                        -1      -5
US GAAP Operating Income                  397     359



CORE EPS CALCULATION

In CHF million                  9M 2013 9M 2012
Core earnings                       496     444
Non-GAAP financial result           -10     -10
Adjusted income before tax          485     433
Tax                                 -71     -67
Adjusted net income                 414     366
Number of shares in calculation     115     119
Core EPS (in CHF)                  3.60    3.09



UPCOMING EVENTS



  oMacitentan regulatory decisions
  oGlobal Macitentan launch
  oValchlor launch in the US
  oFY Financial Results 2013 reporting - 11 February 2014
  oAnnual General Meeting - 8 May 2014
  oSelexipag Phase III results - Mid-2014



                                     ###



NOTES TO EDITORS



ABOUT ACTELION LTD.

Actelion Ltd is a biopharmaceutical company with its corporate headquarters in
Allschwil/Basel, Switzerland.  Actelion's  first drug  Tracleer®,  an  orally 
available dual endothelin receptor antagonist, has been approved as a  therapy 
for pulmonary arterial hypertension.  Actelion markets Tracleer® through  its 
own subsidiaries in key markets worldwide, including the United States  (based 
in South  San Francisco),  the European  Union, Japan,  Canada, Australia  and 
Switzerland.

Founded in  late 1997  Actelion  is a  leading  player in  innovative  science 
related to the endothelium - the single layer of cells separating every  blood 
vessel from the blood  stream. Actelion's over 2,300  employees focus on  the 
discovery, development and marketing of innovative drugs for significant unmet
medical needs. Actelion shares  are traded on the  SIX Swiss Exchange  (ticker 
symbol: ATLN) as  part of the  Swiss blue-chip index  SMI (Swiss Market  Index 
SMI®).



For further information please contact:

Roland Haefeli
Senior Vice President, Head of Investor Relations & Public Affairs
Actelion Pharmaceuticals Ltd, Gewerbestrasse 16, CH-4123 Allschwil
+41 61 565 62 62
+1 650 624 69 36
www.actelion.com



Conference Call Information

Actelion Ltd will announce the Nine months 2013 financial results on Thursday,
17 October 2013, at 07.00 hrs CEST / 06.00 hrs BST / 01.00 a.m. EDT. An
investor conference call & webcast will be held at 14.00 hrs, CEST to discuss
the results.

Date/Time:

17 October 2013 14.00 hrs Basel (CEST)
               13.00 hrs UK (BST)
               08.00 a.m US (EDT)

Conference Call Connect #:

Dial-in participants should start calling the number below 10-15 minutes
before the conference is due to start.



Dial: Europe:  +41 (0)44 580 00 74

 UK:  +44 (0)203 367 94 54

 US: +1 866 9075 924



Participant's mode: Listen-Only with possibility to open individual lines
during Q&A session.

Participants will be asked for their Name and Company.

Webcast Access:

Webcast participants should visit the Actelion website http://www.actelion.com
10-15 minutes before the conference is due to start.

Participant's mode: Listen-Only

Webcast Replay:

The  archived  Investor   Webcast  will  be   available  for  replay   through 
http://www.actelion.com approximately 60 minutes after the call has ended.



Financial Statement
Webcast
Financial Fact Sheet
Press Release PDF

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Actelion Pharmaceuticals Ltd
Gewerbestrasse 16 Allschwil Switzerland

ISIN: CH0010532478;
 
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