Xellia pays steep price for factory delays

Novo company Xellia Pharmaceuticals has not generated the profits which it had hoped for and instead presents a notable deficit for 2020. The firm blames competitive prices and factory issues.

Photo: Xellia Pharmaceuticals / PR

Following last year's record profit, Xellia Pharmaceuticals seemed to have started a new growth spurt, but this did not turn out to be the case. Danish media Børsen reports that instead, the firm reports a DKK 133m (USD 21.8m) deficit for 2020 compared to its DKK 400m profit in 2019.

Xellia CEO Carl-Åke Carlsson notes that the deficit is due to the increased pressure of competitive prices and a miscalculation concerning the move from one factory to another. Furthermore, the firm had some launch issues relating to its new Cleveland factory facility.

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