Today, Laboratorios Farmacéuticos Rovi, S.A. held its General Shareholders’ Meeting, where the year 2019, marked by significant growth, was evaluated. The company increased its sales of both prescription-based pharmaceuticals (30%) and its contract manufacturing division (20%), as well as, in particular, low-molecular-weight heparins (46%). “It has been an outstanding year for ROVI and we hope to go forward in gaining international presence and our commitment to research”, commented Juan López-Belmonte Encina, ROVI’s Chief Executive Officer.

The Meeting, which was held on the first call, approved all the motions on the Agenda, including, among others, the company’s individual and consolidated annual accounts and the respective management reports for the year ended 31 December, 2019, as well as the corporate management during the year.

The shareholders approved accounts that showed consolidated operating revenue of 381.3 million euros in 2019, representing growth of 26% on 2018. ROVI obtained an increase of 106% in EBITDA, which rose from 29.5 million euros in 2018 to 60.9 million euros in 2019. Likewise, ROVI’s net profit grew 119%, totalling 39.3 million euros. Research & development (R&D) expense was 29.3 million euros in 2019. This expense was mainly related to developing the Phase III trial of Risperidone-ISM® and the Phase I of Letrozole-ISM®.

The heavy growth in revenue is mainly explained by the generalised increase in sales in all areas of the group. Prescription-based pharmaceuticals rose by 30%, outperforming the pharmaceutical market for a further year.

Attention should be drawn to the 46% increase recorded in the sales of the low-molecular-weight heparin (LMWH) franchise. LMWHs (enoxaparin biosimilar and bemiparin) accounted for 47% of operating revenue in 2019, compared with 40% in 2018. Specifically, sales of the enoxaparin biosimilar totalled 80.9 million euros, while those of bemiparin were 96.8 million euros in 2019.

2019 was the year in which ROVI began construction of the second heparin plant in Granada (Spain), intended to meet the growing demand for ROVI’s low-molecular-weight heparins all over the world.

Sales of other specialty pharmaceuticals also rose. In 2019, sales of Neparvis® grew 62%, reaching 22 million euros, in comparison with 13.6 million euros in 2018. This is a prescription-based product from the company Novartis indicated for the treatment of adult patients with symptomatic chronic heart failure and reduced ejection fraction, which ROVI has been distributing in Spain since December 2016

Sales of Volutsa®, a prescription-based product from the company Astellas Pharma indicated for the treatment of moderate to severe storage symptoms and voiding symptoms associated with benign prostatic hyperplasia, increased by 18% to 13.3 million euros in 2019.

ROVI, the great international expansion

Sales outside Spain rose by 50% in 2019, accounting for 39% of operating revenue, compared with 33% in 2018.

As of 31 December, 2019, bemiparin was present in 58 countries outside Spain and sold 6% more than in the preceding year.

Likewise, in the same year, ROVI succeeded in having its enoxaparin biosimilar present in 13 countries, its sales being multiplied by 2.7.

Likewise, ROVI’s international project continued to gain strength and, in 2019, it acquired the marketing rights for Dexchlorpheniramine Maleate in Spain and France and Falithrom® for the German market.

Positive results of DORIA®

ROVI continues to bet on research and one of the milestones of 2019 was, precisely, the positive results of the Phase III study of DORIA® in patients with schizophrenia. The company has thus commenced the evaluation process to obtain marketing authorisation for DORIA® in the European Union. ROVI has made important progress in the treatment of schizophrenia and is excited about the future.

During the General Shareholders’ Meeting, the company also referred to the important agreement with Moderna to manufacture the fill-finish of its COVID-19 vaccine candidate outside the United States. Likewise, it continued with its permanent bet on research as a guarantee of growth and sustainability.

ROVI consolidated its bet on research and development as a guarantee of the company’s future. Mr Juan López-Belmonte Encina commented that “we have successfully positioned ourselves as a global benchmark company in the low-molecular-weight heparin field and we will continue to focus on international expansion, with full confidence in our potential to grow and to continue saving lives. We are still convinced that research is the path to prosperity and development, and our goal is to find scientific solutions that, now more than ever, are becoming the real hope for millions of people who are suffering. And we will do all this with a commitment to responsible management, based on the principles of sustainability. We are especially proud that ROVI has achieved such a high score in the ESG (Environment, Social an Governance) sustainability rating prepared by Sustainalytics, a global leader in the evaluation of Corporate Social Responsibility and Corporate Governance, obtaining second place from among 360 companies in the pharmaceutical industry all over the world”.

Growth forecasts

In 2020, ROVI expects a mid-single-digit growth rate for the operating revenue.

ROVI expects its growth drivers to be Bemiparin, the latest license agreements, such as Neparvis® and Volutsa®, the enoxaparin biosimilar, its existing portfolio of specialty pharmaceuticals, the new products acquired recently (Falithrom® and Polaramine®) and the new contracts in the contract manufacturing area.

Juan López-Belmonte Encina expressed his satisfaction at the results obtained and said, “We continue to grow, increasing our presence in Europe and, primarily, occupying a privileged position in the area of innovation, research and development. Now, more than ever, we are aware of our responsibility and the importance of continuing to find it exciting  to work for a company like ours, a company that bets on health and life. We will move forward, convinced that we will be able to overcome any obstacles, however complex they may be”.

The Ordinary General Shareholders’ Meeting of Laboratorios Farmacéuticos ROVI held today also approved the distribution to the shareholders of a gross dividend of 0.1751 euros per share entitled to receive it, charged to the 2019 profit. This represents an increase of 119% on the dividend paid out against the 2018 profit (0.0798 euros per share) and implies a pay-out of approximately 25% of the 2019 consolidated net profit.

Information on the General Shareholders’ Meeting 2020 of ROVI

• All the motions submitted for the approval of the General Meeting were passed. The voting results may be consulted on the company’s website: www.rovi.es.
• Notary required to attend the Meeting: Mr Manuel Richi Alberti.
• Secretary of the Board of Directors: Mr Gabriel Núñez Fernández.