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Monday, April 15, 2019 — 12:30:42 (EDT)

Biofrontera reports preliminary unaudited sales revenue for the first three months of 2019

Leverkusen, Germany, April 15, 2019 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, today reports preliminary unaudited revenue for the first three months of fiscal year 2019.

The preliminary unaudited revenue of the Company for the period January to March 2019 was around EUR 6.8 million. This represents a revenue growth of approximately 46% compared to the previous year period, with pure product sales increasing by around 48%. The increase marks the fourth consecutive quarter-over-quarter revenue growth despite the traditionally weaker first quarter.

Preliminary unaudited product sales in the U.S. are expected to be approximately EUR 5.2 million, compared to EUR 3.4 million in the same period in 2018 (+52%). First quarter 2019 product sales in Germany increased by approximately 72% to EUR 1.1 million compared to EUR 0.6 in the first quarter of 2018. Revenue generated in the remainder of Europe will be flat at around EUR 0.6 million, compared to the same period last year. This effect is due to the elimination of re-imports within the EU.

Overall, sales in the first quarter of 2019 were again significantly higher than in the previous year and are further proof of the company's successful growth strategy.

Source: Company press release.

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