We are pleased to announce a resilient financial performance for H1 2020, despite the unprecedented backdrop of COVID-19, with Group Sales Growth of 3.1% and a Core Operating margin of 32.3%, driven by our strong Specialty Care portfolio.
We are reinstating our 2020 guidance with Group Sales Growth of greater than +2.0% and a Core Operating margin greater than 30.0% of net sales, taking into account the high level of uncertainty regarding COVID-19 and assuming only a gradual recovery from the pandemic.
We have seen significant progress of our late-stage R&D pipeline with Cabometyx, Onivyde and Dysport and with the option agreement with IRICoR for a discovery-stage oncology program. We also recently announced our decision to opt-in for two ongoing Cabometyx Phase 3 trials with our partner Exelixis: CONTACT-01 in combination with atezolizumab in previously treated metastatic non-small cell lung cancer (NSCLC) and CONTACT-02 in combination with atezolizumab in castrate-resistant prostate cancer (CRPC).
“Throughout the COVID-19 period, our teams have demonstrated incredible commitment to patients, ensuring they continue to access our medicines despite the challenging environment” said David Loew, CEO. “I am encouraged by the exceptional levels of talent and engagement I have encountered across the organization and I look forward to helping the Group build on these strong foundations.”
For more information read the press release.