March 2, 2020 / 6:01 PM / a month ago

Sweden's Vitrolife sees Asian Q1 sales down 30% due to coronavirus

STOCKHOLM, March 2 (Reuters) - Swedish in vitro fertilisation (IVF) technology firm Vitrolife said on Monday it expected sales in Asia, which accounted for about a quarter of revenue in 2019, to fall 30% in the first three months of 2020 due to the coronavirus outbreak.

Vitrolife, a maker of devices for assisted reproduction, said IVF clinics in China had started to receive patients again after being closed for several weeks due to the outbreak.

“But the intake of patients is very low, which is why Vitrolife estimates that sales in China will be significantly lower than normal also in the remaining part of the quarter,” CEO Thomas Axelsson said in a statement.

The company, which also said demand had been lower than usual in neighbouring markets outside China, said it believed the vast majority of patients scheduled for IVF treatments in the first quarter would complete them at a later date. (Reporting by Johannes Hellstrom; Editing by David Clarke)

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