Hello, and good afternoon to everyone joining the H.C. Wainwright 27th Annual Global Investment Conference. My name is Charles Wallace, and I'm with the equity research team here at HCW. Now, it is my pleasure to welcome MedinCell SA, ticker MEDCL. MedinCell is a clinical and commercial stage biopharma company developing long-acting injectables by combining known active ingredients with their BEPO technology. You may be familiar with their first product approved on the BEPO platform, UZEDY, an atypical antipsychotic LAI. From the company, I'm excited to introduce Christophe, the CEO.
Thank you. Thank you. Thank you for listening to our story today. 2024 was a spectacular year for MedinCell. And as you will see, the next couple of years should be the most transformative years of MedinCell's history. So what we do is long-acting injectables where we replace a pill by an injection, which will deliver a drug for a very long period of time. Upon injection, as you see on the screen, the formulation solidifies into a depot, and the depot will release the drug and bioresorb. So our strategy shift to growth is made up by three engines. The first one is UZEDY, our first commercial product, which was approved in 2023. And UZEDY should take us to operational profitability. Right beyond UZEDY, we have olanzapine LAI, another antipsychotic also developed by Teva. And this one should bring acceleration in our growth.
It was even mentioned in the Wall Street Journal as a program that could revive Teva, so pretty powerful statement, and then engine number three is made up by our R&D pipeline with the first program we have with AbbVie, another partner of MedinCell, and our technology innovation. I often call this slide the most important slide of the presentation. It explains what we do with Teva. On the left, you have risperidone. Risperidone is a drug from Johnson & Johnson, which had peak sales of EUR 3.5 billion under patent expiry, and then Johnson & Johnson developed a franchise of long-acting injectable as life cycle management, which is now EUR 4.8 billion, EUR 3.7 billion of that in the U.S. alone, and this is what UZEDY is targeting. On the right, you can see that Eli Lilly had this other antipsychotic called olanzapine.
They reached EUR 5 billion in sales in 2010, and they tried to do the exact same strategy as Johnson & Johnson, building long-acting injectables. But look at this. Instead of having a nice big green multi-billion dollar box, they only sell for EUR 40 million a year because they have this issue called PDSS, which is a burst on about 2% of patients where the patient gets the full monthly dose in one day. So obviously, he's not doing well. And by precaution, FDA has imposed all patients to stay on site after injections for three hours and being monitored through a REMS program. Our olanzapine LAI, which we did for Teva, targets this huge empty space. So UZEDY was launched mid-2023. You can see an impressive trend of prescriptions. 2024 was the first commercial year with EUR 117 million in sales. The first half of 2025 was EUR 93 million alone.
We are expecting also FDA feedback on an extension of UZEDY to bipolar disorder sometime before the end of this year. UZEDY is doing well because we believe it is the ideal long-acting injectable. It ticks all the boxes. It has become a true gold standard, and if you compare to Johnson & Johnson's long-acting injectables, UZEDY is subcutaneous. It has immediate onset. It is ready to use, and you can inject wherever you would like, and this explains why it is doing so well, because it is better for clinicians and better for patients. This is very impressive. Real-world data from last May published by Teva, over 700 patients, and you can see the impact of UZEDY versus second-generation oral antipsychotics. I'll let you read the numbers. Around 50% improvement in relapse rates, in patient rates, hospital stays, minus 29% in cost. Really compelling data.
Now, olanzapine. Olanzapine can be considered as a true first-in-class for three reasons. First, as you see on the chart, it is the most used antipsychotic in schizophrenia. It is used for the most severe patients, the ones that need the long-acting the most, and it has first-in-class potential since, as I explained earlier, Eli Lilly failed with their own long-acting. Phase three of olanzapine LAI was completed earlier this year. We are expecting the last safety data in Q3, so Q3, that's the end of the month. Teva should file for FDA by the end of the year, which brings us to sometime in 2026 for potential commercial launch. Now you understand why I said earlier that the next couple of years should be the most transformative of MedinCell's history. Both products have very long patent life. UZEDY 2042, granted last year. Olanzapine 2044.
Beyond UZEDY, beyond olanzapine, we have a pipeline of products, a local release of celecoxib for post-op pain. First indication is total knee surgery. I'll come back to that. We have this first program with AbbVie in preclinical. We signed a major deal with AbbVie in April of 2024. We have a six-month contraceptive, best-in-class contraceptive. We gave the Gates Foundation all human rights against EUR 23 million in grants. We also have a global health initiative to break the malaria transmission vector, plus 10 in-house or partnered programs at formulation stage. We signed the deal with AbbVie in May 2024. The first program candidate, lead candidate, was selected in September 2024. It is in preclinical already. We can do up to five additional LAI programs.
We received EUR 35 million upfront from AbbVie, and we have up to EUR 1.9 billion in potential commercial and development milestones for the six programs, plus royalties. mdc-CWM did the first phase three and showed clear differentiation and a very unique impact on long-term functional outcomes after total knee surgery. Our partner, AIC, is preparing the next phase three. We have a rich early-stage pipeline, which comprises both in-house programs and partnered programs with big pharma, late-stage biotech, global health. Those programs work on both commercial stage APIs or development stage drugs. They are in five different therapeutic areas, and several of them have blockbuster potential. 2024 was a spectacular year. We executed the deal with AbbVie. We saw the very strong ramp-up of UZEDY, completion of phase three of olanzapine.
On the financial side, our revenue was up 2.8x, and we cut our losses in half, paving the way for reaching profitability in our fiscal year at March 31st, 2027. Our revenues were up 2.8x. You can see that over half of those revenues are now related to our commercial products, either UZEDY or olanzapine. The rest is made up for more services, revenue formulation work with AbbVie and others. Very strong cash position. We raised EUR 43 million last February with tier one, mostly with tier one U.S. investors. We also received the EUR 33 million upfront payment from AbbVie, which gave us a cash position last March of close to EUR 72 million. So our shift to growth strategy is now translating into financial metrics. Operational profitability next year, March 31st, 2027. By 2030, analysts estimate that we could reach around 300 million of revenue.
If you do a quick math with our potential expenses and taxes, this could mean around EUR 200 million of EBITDA in 2030. Thank you.