• ​Operating revenue in the first nine months of 2025 was 525.1 million euros, a 7% decrease on the first nine months of 2024, mainly due to the performance of the contract development and manufacturing business ("CDMO"). However, sales of the specialty pharmaceutical business increased 10% to 343.4 million euros in the first nine months of 2025.
• On 21 October 2025, ROVI announced that its subsidiary ROVI Pharma Industrial Services, S.A.U. (hereinafter, "ROIS") will collaborate with F. Hoffmann-La Roche Ltd. (hereinafter, "Roche") for the manufacture of a new medicine, currently in clinical development, from Roche’s metabolic and cardiovascular portfolio. ROIS will place a high-speed filling line at its facility in San Sebastián de los Reyes (Madrid) at Roche’s disposal. For 2030, ROVI estimates that the agreement will contribute to a minimum increase of between 20% and 25% in contract manufacturing business sales compared with the 2024 figure.
• On 29 September 2025, ROVI announced that ROIS Phoenix Inc. (the "Buyer"), a wholly owned subsidiary of ROVI Pharma Industrial Services, S.A.U., had entered into an Asset Purchase Agreement with Bristol Myers Squibb (“BMS”) for the acquisition of a drug manufacturing facility located in Phoenix, Arizona (USA) (the "Facility") together with a series of assets and liabilities related thereto (the "Transaction"). As part of the Transaction, the Buyer has entered into a Toll Manufacturing Agreement with BMS, which regulates the conditions under which the Buyer will continue to manufacture for BMS at the Facility. The agreement has an initial term of five years from the closing of the Transaction and provides for a minimum payment of 50 million dollars for each year of the contract. The acquisition of the Facility will be made for a price which is not material for ROVI and will be subject to the fulfillment of certain customary conditions precedent set out for this type of transaction. The completion of the Transaction is expected to take place during the first half of 2026.
• In the third quarter of 2025, ROVI signed an agreement with Sandoz to market Rolcya® (denosumab), which corresponds to Prolia® of Amgen, in Spain. This medicine is indicated for the treatment of osteoporosis. Under the terms of this ten-year agreement, ROVI will handle the promotion and distribution in Spanish territory of Rolcya®.  ROVI will start to market Rolcya® in November 2025. According to data from IQVIA, the annual denosumab market is estimated at 70 million euros per year and Rolcya® aims to reach maximum annual sales of between 10 and 15 million euros.
• On 9 July 2025, the Technological Development and Innovation Centre (CDTI) published the final decision confirming the award of aid of 36.3 million euros for ROVI's LAISOLID project. This aid covers the period running from January 2023 to August 2026. In the third quarter of 2025, the Company has booked the revenue relating to the expenses incurred from January 2023 to September 2025 and has collected the entire amount awarded.
• Okedi® (Risperidone ISM®) continued its strong growth, reaching total sales of 41.0 million euros in the first nine months of 2025. This represents a 102% increase on the first nine months of 2024, and an 81% rise on the third quarter of 2025 compared to the third quarter of 2024.                     
• Sales of the heparin franchise (which includes low-molecular-weight heparins (LMWH) and other heparins) rose by 7% to 189.8 million euros in the first nine months of 2025 due to an increase in orders from international partners. Enoxaparin was the main contributor to the growth of the division, with sales rising 11% to 112.8 million euros as a result of higher order volumes from partners during the period.
• Good performance of Neparvis®, sales of which increased by 10% in the first nine months of 2025 compared to the first nine months of 2024, rising to 42.1 million euros.
• Gross margin was 67.1% in the first nine months of 2025, an increase of 3.5 percentage points on the first nine months of 2024. This increase was impacted by the recognition of revenue associated with the R&D aid awarded by the CDTI for the LAISOLID project, which is recorded under the "Other income" line. However, excluding the impact of "Other income", gross margin would have increased by 1.8 percentage points to 65.3% mainly due to: (i) the increased contribution of Okedi® sales, which added high margins; and (ii) the decrease in LMWH raw material prices, which had a positive impact on gross margin.
• Net profit amounted to 97.7 million euros in the first nine months of 2025.
• The ROVI General Shareholders Meeting, held on 18 June 2025, approved the payment of a gross dividend of 0.9351 euros per share; which represents approximately a 35% pay-out. This dividend was paid on 16 July 2025.

OUTLOOK

For 2025, ROVI expects its operating revenue to decrease by a mid-single-digit percentage in comparison with 2024.

For 2026, ROVI expects its operating revenue to increase by between a high single-digit and low double-digit percentage compared to 2025. This estimate is based on a number of factors whose evolution is difficult to predict at the present time. Among the main elements affecting this guidance that were included when making the estimate are:

• Limited visibility of the evolution of the demand and production associated with the 2026 vaccination campaign,
• The potential revenue from the manufacturing agreement signed with Bristol Myers Squibb (still in the process of signature), as part of the Transaction announced on 29 September 2025, and
• Revenue arising from other agreements related to the contract manufacturing activity.