ROVI reports operating revenue growth of 57% and net profit growth of 123%
Wed, 11/05/2022 - 00:00
2 minROVI reports operating revenue growth of 57% and net profit growth of 123%
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Madrid, Spain - 24 October 2024 – Laboratorios Farmacéuticos Rovi, S.A. (hereinafter, “ROVI”), a pan-European pharmaceutical company that...
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ROVI REPORTS OPERATING REVENUE GROWTH OF 57% AND NET PROFIT GROWTH OF 123%
• Operating revenue increased by 57% to 205.6 million euros driven by (i) the strength of the contract manufacturing organization (“CMO”) business, which grew by 167%, and (ii) the specialty pharmaceutical business, where sales rose
16%.
• Sales of the heparin franchise (Low Molecular Weight Heparins (LMWH) and other heparins) increased by 19% to 75.9 million euros. Sales of the enoxaparin biosimilar increased 50% to 44.2 million euros and sales of Bemiparin
decreased 8% to 30.0 million euros.
• EBITDA increased by 113% to 74.3 million euros.
• Net profit increased by 123% to 53.0 million euros.
• ROVI and Moderna announced a long-term collaboration to increase capacities for the compounding, aseptic filling, inspection, labeling, and packaging of ROVI’s facilities located in Madrid, San Sebastián de los Reyes and Alcalá de
Henares. This new agreement, which has a term of ten years, includes a series of investments expected to allow the manufacturing capacity to increase across ROVI’s facilities in Madrid, Spain.
• The European Commission has authorized the marketing of Okedi® (Risperidone ISM®) for the treatment of schizophrenia in adults for whom tolerability and effectiveness has been established with oral risperidone. The product was launched in Germany in April.
END OF THE SHARE BUY-BACK PROGRAMMES
On 22 February 2022, ROVI informed that the Board of Directors resolved to finalize the first share buy-back programme launched by the Company as of 3 November 2021, having acquired 1,492,108 own shares, this is, 89% of the maximum number of shares to be acquired under the buy-back programme.
Likewise, on 29 March 2022, ROVI informed of the finalization of the second buy-back programme, launched by the Company and effective as of 23 February 2022. The Company had acquired 560,700 treasury shares, this is, 100% of the maximum number of shares foreseen under the buy-back programme.
OUTLOOK
For 2022, ROVI expects its operating revenue to increase between 15% and 20%.