Exhibit 99.1
Contacts:
Andrew Graham
Chief Financial Officer
Trimeris, Inc.
(919) 806-4682
Trimeris Reports Third Quarter 2008 FUZEON® Sales Results
- Worldwide net sales up 19 percent over the second quarter of 2008
- Worldwide net sales for the first three quarters of 2008, down 37 percent over the same period last year
DURHAM, N.C. - October 20, 2008 - Trimeris, Inc. (Nasdaq: TRMS) today announced worldwide net sales of FUZEON for the third quarter of 2008 were $45.5 million, down 39 percent from $73.9 million in the third quarter of 2007. Net sales of FUZEON in the U.S. and Canada for the third quarter of 2008 were $14.9 million, down 51 percent from $30.6 million in the third quarter of 2007. Net sales of FUZEON outside the U.S. and Canada for the third quarter of 2008 were $30.6 million, down 29 percent from $43.3 million in the third quarter of 2007. All sales of FUZEON are recorded by F. Hoffmann-La Roche Ltd, ("Roche"), Trimeris' collaborative partner.
Net sales of FUZEON for the first nine months of 2008 were $126.5 million, a decrease of 37 percent from $200.3 million in the first nine months of 2007. Net sales of FUZEON in the U.S. and Canada for the first nine months of 2008 were $48.0 million, a decrease of 48 percent from $92.8 million in the first nine months of 2007. Net sales of FUZEON outside the U.S. and Canada for the first nine months of 2008 were $78.5 million, a decrease of 27 percent from $107.5 million in the first nine months of 2007.
The release of complete financial results for the third quarter of 2008 will take place in early November 2008.
Net Fuzeon Sales
The table below presents net FUZEON sales by quarter beginning in the first quarter of 2006:
(millions)
| | 2008 |
| | Q1 | Q2 | Q3 | Q4 | Total |
U.S/Canada Net Sales | $17.0 | $16.1 | $14.9 | - | $48.0 |
Ex. U.S/Canada Net Sales | 25.7 | 22.2 | 30.6 | - | 78.5 |
Global Net Sales | $42.7 | $38.3 | $45.5 | - | $126.5 |
Brazil Purchase* | - | - | $11.4 | - | $11.4 |
| | |
| | 2007 |
| | Q1 | Q2 | Q3 | Q4 | Total |
U.S/Canada Net Sales | $29.3 | $32.9 | $30.6 | $31.5 | $124.3 |
Ex. U.S/Canada Net Sales | 35.0 | 29.2 | 43.3 | 35.0 | 142.5 |
Global Net Sales | $64.3 | $62.0 | $73.9 | $66.5 | $266.8 |
Brazil Purchase* | $6.0 | - | $13.8 | $7.3 | $27.1 |
| | | | | | |
| | 2006 |
| | Q1 | Q2 | Q3 | Q4 | Total |
U.S/Canada Net Sales | $27.4 | $31.1 | $33.5 | $42.2 | $134.2 |
Ex. U.S/Canada Net Sales | 28.0 | 26.2 | 29.5 | 31.1 | 114.8 |
Global Net Sales | $55.4 | $57.2 | $63.0 | $73.3 | $249.0 |
Brazil Purchase* | $5.3 | - | $4.4 | $4.7 | $14.3 |
(numbers may not add due to rounding)
*included in Ex. U.S/Canada Net Sales and Global Net Sales
About Trimeris, Inc.
Trimeris, Inc. (Nasdaq: TRMS) is a biopharmaceutical company engaged in the development and commercialization of novel therapeutic agents for the treatment of viral disease. The core technology platform of fusion inhibition is based on blocking viral entry into host cells. FUZEON, approved in the U.S., Canada and European Union, is the first in a new class of anti-HIV drugs called fusion inhibitors. For more information about Trimeris, please visit the Company's website at http://www.trimeris.com.
Trimeris Safe Harbor Statement
This document and any attachments may contain forward-looking information about the Company's financial results and business prospects that involve substantial risks and uncertainties. These statements can be identified by the fact that they use words such as "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning. Among the factors that could cause actual results to differ materially are the following: there is uncertainty regarding the success of research and development activities, regulatory authorizations and product commercializations; we are dependent on third parties for the sale, marketing and distribution of our drug candidates; the market for HIV therapeutics is very competitive with regular new product entries that could affect the sales of our products; the results of our previous clinical trials are not necessarily indicative of future clinical trials; and our drug candidates are based upon novel technology, are difficult an d expensive to manufacture and may cause unexpected side effects. For a detailed description of these factors, see Trimeris' Form 10-K filed with the Securities and Exchange Commission on March 17, 2008 and its subsequent periodic reports filed with the SEC.
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