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Swedish pharma company developing long-acting injectable drugs for opioid dependence and pain, using its FluidCrystal delivery technology.
Swedish pharma company developing long-acting injectable drugs for opioid dependence and pain, using its FluidCrystal delivery technology.
Sells a weekly or monthly buprenorphine injection, marketed as Buvidal in Europe and Australia and as Brixadi in the US, for opioid dependence. It also earns milestone and licence payments when other drug makers use its FluidCrystal delivery technology for their own products.
In one line: A specialty drug-delivery pharma like a smaller Indivior.
Moat: narrow (IP / patents, process know-how). Proprietary lipid-based depot delivery technology and patents on approved long-acting injectables.
Headquarters: Lund, Sweden · Founded: 1993 · Employees: 285
Size Camurus (CAMX.ST) is a Sweden Health Care company (Pharmaceuticals: Major) with a market value of $4.52B, the 50th largest of 221 Sweden companies the cockpit tracks. Shares closed at SEK 731.00 on 6 Nov 2026.
Performance Over six months the shares gained 47.1%, against +1.8% for the median peer and +8.2% for the Sweden market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue was unchanged over the last twelve months (peer median +14.0%); the operating margin is 36.9% (peer median 15.7%).
Valuation It trades at 48.5× forward earnings against a peer median of 31.8× (2nd most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +46%, so the hurdle is -36 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 87.3 points above its cost of capital (5.0% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | SEK 2.27B | SEK 2.27B | SEK 1.87B | SEK 1.72B | SEK 956M |
| Revenue growth | — | +21% | +9% | +80% | — |
| Gross profit | SEK 2.08B | SEK 2.10B | SEK 1.74B | SEK 1.59B | SEK 850M |
| EBITDA | SEK 864M | SEK 907M | SEK 484M | SEK 544M | SEK 83.5M |
| Net income | SEK 678M | SEK 736M | SEK 428M | SEK 431M | SEK 55.6M |
| Free cash flow | SEK 655M | SEK 731M | SEK 360M | SEK 598M | SEK 99.3M |
| Capital expenditure | SEK 158M | SEK 139M | SEK 29.4M | SEK 10.1M | SEK 1.91M |
| Total debt | SEK 108M | SEK 106M | SEK 17.0M | SEK 24.5M | SEK 26.2M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Camurus CAMX.ST | $4.52B | +47% | 0% | 37% | 48.5× | 10.4% |
| Indivior Pharmaceuticals INDV | n/a | -7% | n/a | n/a | n/a | n/a |
| Alkermes Public ALKS | $7.71B | +31% | +15% | 5% | n/a | 31.5% |
| Ipsen IPN.PA | $14.7B | -4% | +14% | 30% | 10.9× | -7.3% |
| Crinetics Pharmaceuticals CRNX | n/a | +109% | n/a | n/a | n/a | n/a |
| Novartis NOVN.SW | $298B | +15% | -4% | 30% | 18.4× | 1.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CAMX.ST | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +16.0% | +1.7% | 5th highest of 20 |
| 6-month return | +47.1% | +1.8% | 2nd highest of 20 |
| Distance from 52-week high | -0.8% | -34.5% | highest of 21 |
| Revenue growth (TTM) | 0.0% | +14.0% | 4th lowest of 19 |
| Operating margin | 36.9% | 15.7% | 3rd highest of 19 |
| Forward P/E | 48.5× | 31.8× | 2nd most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 10.4% | 14.9% | 8th least demanding of 16 |
| Growth delivered (Del g) | +46.5% | +7.5% | 3rd highest of 16 |
| Hurdle (Req g minus delivered) | -36.1 pp | -2.5 pp | 4th least demanding of 16 |
| ROIC minus cost of capital | +87.3 pp | +5.9 pp | 2nd highest of 19 |
| EV / EBITDA | 46.6× | 22.3× | most expensive of 9 |
| Net debt / EBITDA | -4.6× | -0.4× | 2nd least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Camurus CAMX.ST | Sweden | $4.52B | +47% | 0% | 37% | 48.5× | 10.4% | +46.5% |
| GlaxoSmithKline Pharmaceuticals GLAXO.NS | India | $4.53B | +2% | +12% | 33% | 35.9× | 25.2% | +5.5% |
| Legend Biotech Corp. Sponsored ADR LEGN | United States | $4.53B | -17% | +60% | -4% | 64.5× | n/a | n/a |
| Guangzhou Baiyunshan Pharmaceutical 0874.HK | Hong Kong | $4.56B | -23% | +6% | 3% | 7.3× | 0.7% | +4.0% |
| Emcure Pharmaceuticals EMCURE.NS | India | $4.47B | +33% | +21% | 16% | 33.9× | 14.9% | +12.7% |
| Sunshine Guojian Pharmaceutical (Shanghai) 688336.SS | China | $4.47B | -34% | +227% | 74% | 46.9× | 3.3% | +45.1% |
| Definium Therapeutics DFTX | United States | $4.47B | +51% | n/a | n/a | n/a | n/a | n/a |
| Ajanta Pharma AJANTPHARM.NS | India | $4.37B | +7% | +25% | 25% | 32.2× | 23.8% | +13.8% |
| HanmiPharm 128940.KS | South Korea | $4.36B | +2% | +14% | 16% | 16.8× | 5.0% | +7.5% |
| Humanwell Healthcare (Group) 600079.SS | China | $4.71B | +3% | -3% | 16% | 13.4× | -6.8% | +3.0% |
| Travere Therapeutics TVTX | United States | $4.76B | +16% | +49% | -3% | 16.9× | 16.7% | +19.9% |
| Novast Laboratories 301569.SZ | China | $4.82B | n/a | +3% | 27% | n/a | 42.6% | +3.1% |
| Tianjin Pharmaceutical Da Ren Tang 600329.SS | China | $4.11B | +4% | -13% | 20% | 31.4× | 17.8% | -5.8% |
| Shanghai Junshi Biosciences 1877.HK | Hong Kong | $4.08B | -39% | +36% | -14% | n/a | n/a | n/a |
| Erasca ERAS | United States | $5.04B | +42% | n/a | n/a | n/a | n/a | n/a |
| HUBEI JUMPCAN PHARMACEUTICAL 600566.SS | China | $4.05B | +6% | -4% | 32% | 14.9× | -11.5% | +0.3% |
| Yuhan 000100.KS | South Korea | $4.05B | -12% | +5% | 5% | 38.6× | 20.2% | +6.2% |
| SKBP 326030.KS | South Korea | $5.12B | -11% | +39% | 35% | 21.6× | 0.5% | +93.6% |
| Siegfried SFZN.SW | Switzerland | $3.98B | -10% | +4% | 16% | 17.8× | n/a | n/a |
| Liquidia LQDA | United States | $3.97B | +5% | +2,234% | 37% | 32.9× | 0.7% | +192.5% |
| Shenzhen Salubris Pharmaceuticals 002294.SZ | China | $5.18B | -39% | +14% | 11% | 41.6× | 15.5% | +9.7% |