mdg-annual-report-2013

32 GROUP MANAGEMENT’S DISCUSSION AND ANALYSISGROUP MANAGEMENT DISCUSSION AND ANALYSISOF MEDIGENE AG, PLANEGG/MARTINSRIED, AS AT 31 DECEMBER 2013KEY EVENTS IN 2013≥≥≥≥≥≥In-market sales from Veregen ® increased by 40%; further market launches, approvals and partnershipsGlobal partnership agreement for EndoTAG ® -1 concluded; phase III clinical trial funding securedProgress achieved in development projectsSynCore gained as strategic core investorShare capital reduction successfully completedAcquisition of Trianta Immunotherapies GmbH successfully preparedFINANCIAL HIGHLIGHTS IN 2013≥ Total revenue increased by 21% to €7.6 m (2012: €6.3 m)≥ Revenue from Veregen ® royalties increased by 38% to €2.6 m (2012: €1.9 m)≥ EBITDA loss from continued operations reduced by 12% to €-8.3 m (2012: €-9.4 m)≥ Improvement in net result from continued operations of 31% to €-10.3 m (2012: €-14.9 m)