Swiss online drug delivery firm DocMorris reports slight miss in Q1 sales

London: Swiss online drug delivery company DocMorris slightly missed first-quarter sales expectations on Tuesday, as revenue from prescription medicines declined and e-prescriptions could not yet be redeemed fully digitally at online pharmacies.

DocMorris posted external revenue of 262.4 million Swiss francs ($287.47 million), 1.4 per cent below analysts' expectations according to a company-provided poll, but up 5.5 per cent from a year earlier.

Online pharmacies such as DocMorris and Redcare Pharmacy have focused on e-prescriptions in Germany in order to improve profitability.

DocMorris reported an external revenue of 247 million Swiss francs in Germany, representing 94 per cent of the company's total external sales.

Netherlands-based peer Redcare saw its first-quarter sales grow by 51 per cent year-on-year to reach 560 million euros ($594.38 million). ($1 = 0.9128 Swiss francs) ($1 = 0.9422 euros)

(Reporting by Tristan Veyet and Chiara Holzhaeuser in Gdansk; Editing by Jamie Freed)