Madrid, Spain - 24 October 2024 – Laboratorios Farmacéuticos Rovi, S.A. (hereinafter, “ROVI”), a pan-European pharmaceutical company that specialises and engages in the research, development, contract manufacturing and licensing of small molecules and biological medicines, has been evaluating strategic options for its assets including a potential sale of a stake in its third-party contract development and manufacturing (‘CDMO’) business. The process attracted offers from both investment funds and industrial companies who presented several proposals for the CDMO business. However, ROVI’s Board of Directors has concluded that, given the strength, momentum and prospects of this business, the best way to maximize value for shareholders at this time is to continue executing on the Company’s standalone strategic plan, with the interest of the CDMO business best served and developed under the current group structure.
 
Over the past five years, ROVI has invested substantial capital to build global leadership in sterile fill & finish (F&F) capacity and technology services. With these recent investments, and with current expansions underway, ROVI expects to significantly increase its current sterile capacity at its FDA and EMA / EU GMP Annex-1 compliant facilities in Spain. This will allow ROVI to continue to capitalize on the imbalance between the available capacity and the rising demand across the sterile fill & finish market, building on recent momentum with the addition of a high-volume product from a global pharmaceutical customer and the good drive in commercial activity and alliance opportunities across strategic high-growth modalities – including innovative biologics, biosimilars, vaccines and novel modalities for pre-filled syringes and cartridges. 

“The Board of Directors appreciates all of the hard work put into the strategic review process by the Company and its advisors. I am pleased with the process that was undertaken, which has ultimately made us conclude that the CDMO business will drive the highest shareholder value within the current ROVI Group structure” said Mr. Juan López-Belmonte Encina, Chairman and CEO of ROVI. “We remain excited about the near- and long-term potential of our globally leading CDMO business given the attractive market dynamics and the pride we take in supporting the manufacture of medicine that is able to prolong the life of millions of people” added Mr. Javier López-Belmonte Encina, Vice President and CFO of ROVI.