On the occasion of World Environment Day, from the Roviteca we want to provide you with a section specialized in the environment, sustainability, and the protection of biodiversity and the reconstruction of ecosystems.
These contents will help you to become aware of how important the preservation of the environment is and how linked it is with the human being. An opportunity to learn how to be more responsible and sustainable in our day to day.
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Laboratorios Farmacéuticos Rovi, S.A. held today its Ordinary General Shareholders’ Meeting, in which it has been carried out an evaluation of the 2020 financial year, marked by significant growth. The company increased its sales of both prescription pharmaceuticals (6%), and low molecular weight heparins (14%) and especially from the contract manufacturing division (39%). “It has been an essential year for ROVI in which we have demonstrated our commitment to science, life and the health of millions of people, said Mr. Juan López-Belmonte Encina, CEO of ROVI.
The Board, meeting in the first call, approved all the agreements on the Agenda and, among others, the individual and consolidated annual accounts of the Company as well as the respective management reports, corresponding to the annual year ended December 31, 2020, and the social management during the last financial year.
The company has presented its shareholders with consolidated operating income of 420.0 million Euros in 2020, which represents a growth of 10% compared to 2019. ROVI also achieved a 55% increase in EBITDA, from 60.9 million Euros in 2019 to reach 94.2 million Euros in 2020. Rovi’s net profit also grew by 55% to 61.1 million Euros. Expenditure on research and development (R&D) stood at €23.8 million in 2020. These expenses are mainly related to the preparation of the Risperidone ISM® registration dossier for submission to the U.S. Food and Drug Administration (FDA); the development of Phase I of Letrozole-ISM®; and the development of the new formulation of Risperidone ISM® for a quarterly injection.
Sales of LMWH grew by 14% and those of the enoxeparin biosimilar by 25%.
It is worth noting the 14% increase in sales of the Heparins division. Sales of heparins (biosimilar of enoxaparin, Bemiparin and other heparins) accounted for 50% of operating income in 2020 compared to 48% in 2019. Specifically, ROVI has achieved that its enoxaparin biosimilar was present in 19 countries and that its sales increased by 25%, reaching 101.4 million Euros, and the sales of Bemiparin will also stand at 101.4 million Euros in 2020.
Sales of other proprietary medicinal products are also increasing. In 2020, Neparvis® sales grew by 34% reaching 29.6 million Euros, compared to 22.0 million Euros in 2019. Meanwhile, Volutsa® sales increased by 7%, to 14.2 million Euros in 2020.
ROVI, the great international breakthrough
As of December 31, 2020, Bemiparin is already present in 58 countries outside Spain and sells 5% more than in the previous year. Bemiparin’s international sales increased by 21% to reach 33.0 million Euros in 2020.
Sales outside Spain grew by 28% in 2020, representing 46% of operating income compared to 39% in 2019.
Agreement with Moderna
In 2021, ROVI reinforces its collaboration with Moderna in the filling and finishing of the vaccine against COVID-19 by increasing its current capacity for these two activities, and for the manufacture of the active ingredient of this vaccine. To this end, new industrial investments will be carried out in the facilities that the ROVI Group has in Madrid and Granada.
Mr. Juan López-Belmonte Encina commented:“Our collaboration with Moderna, as a manufacturer of injectables, supplying the vaccine against COVID-19 outside the United States, has meant the definitive strengthening of our manufacturing area to third parties. We have taken on this mission so essential to the lives of millions of people with responsibility and commitment, and we thank the Government of Spain and the Spanish Medicines Agency for the trust placed in ROVI.”
Risperidone ISM® in the regulatory process in Europe and the U.S.
ROVI continues to bet on Research as a guarantee of growth and sustainability and one of the milestones of 2020 is precisely the beginning of the evaluation process to obtain the marketing authorization of Risperidone ISM® in the European Union and the United States. ROVI has made significant progress in the treatment of schizophrenia and looks forward to the future.
The results of its pivotal phase III clinical trial PRISMA-3, on the efficacy and safety of Risperidone ISM® in patients with schizophrenia, demonstrate that the monthly injectable antipsychotic Risperidone ISM® provides a significant improvement in symptomatology and disease severity in patients with an acute exacerbation of schizophrenia.
Growth forecasts
In February 2021, ROVI announced that it expected operating income by 2021 to increase by 20% to 30%, including the production of Moderna’s vaccine against COVID-19. As a result of the expanded collaboration between ROVI and Moderna, in 2021 ROVI expects to reach the high band of the range.
ROVI expects its growth engines to be Bemiparin, distribution licensing agreements such as Neparvis® and Volutsa®, enoxaparin biosimilar, the existing specialty pharmaceutical product portfolio, the agreement with Moderna and new third-party manufacturing contracts.
Mr. Juan López-Belmonte Encina has expressed his satisfaction with the results obtained and has stated: “This year we have shown that our business motto, our commitment to Research and Development, is the engine that moves us and stimulates us to continue. We are well aware that our work and our personal and collective commitment have a direct impact on the lives of millions of people. We are ready, prepared and hopeful to continue to contribute to saving lives.”
The Ordinary General Shareholders’ Meeting of Laboratorios Farmacéuticos ROVI, chaired by Mr. Javier López-Belmonte Encina, has also approved at its meeting today the distribution to shareholders of a gross dividend, charged to the results of the 2020 financial year, of 0.3812 Euros per share with the right to receive it, which represents an increase of 118% compared to the dividend paid from the results of the year 2019 (0.1751 Euros per share) and it would involve the distribution of approximately 35% of the consolidated net profit for 2020 (vs 25% of the consolidated net profit for 2019).
