Month: February 2023

Since 2011, the “Equal Pay Day” has been celebrated in Spain every 22 February, taking as a reference a European Parliament Resolution on the application of the principle of equal pay for men and women (2008/2012(INI)).
men and women (2008/2012(INI)).

The aim of this day is to highlight the fact that men and women should receive equal pay for work of equal value. Currently, despite the regulatory development and the great progress made in terms of equal treatment and opportunities between women and men in recent years, both at European and national level, equal pay has not been consolidated.

At ROVI we are committed to the fulfilment of SDG 5 on Gender Equality and the objectives set out in our Equality Plan, with a firm commitment to guarantee equal pay for the entire workforce. For this reason, we carry out annual salary studies that seek to detect differences in salary between men and women for work of equal value in order to be able to correct them if they occur.

In this respect, in accordance with our values, the ROVI Group’s management works actively to ensure that there are no inequalities of any kind within the company.

• Operating revenue increased by 26% to 817.7 million euros driven by (i) the strength of the contract manufacturing organization (“CMO”) business, which grew by 52%, and (ii) the specialty pharmaceutical business, where sales rose 8%. 
• Sales of the heparin franchise (Low Molecular Weight Heparins (LMWH) and other heparins increased by 9% to 264.0 million euros. Sales of the enoxaparin biosimilar increased 23% to 152.9 million euros.
• EBITDA increased by 37% to 278.9 million euros.
• Net profit increased by 30% to 199.7 million euros.
• Launch of Okedi® (Risperidone ISM®) in Germany (April 2022), United Kingdom (July 2022) and Spain (September 2022) for the treatment of schizophrenia in adults.
• On October 4th, 2022, ROVI presented Glycopepton Biotech, S.L., a joint venture with Càrniques Celrà, S.L. and Grupo Empresarial Costa, S.L., that involves the creation of one of the first national structures for self-sufficiency in heparins. The project involves the construction of a facility at the Industrial Logistics Platform of Fraga (Huesca), which will produce compounds of high biological value that derive from the intestinal mucosa of pigs.
• ROVI’s ESG aspects have been evaluated by Sustainalytics, having obtained an “ESG Risk Rating 2021” of 17.3, which places the company at low risk (between 10 and 20). ROVI has attained the first position out of 458 companies in the sub-industry “pharmaceuticals”.
• ROVI will propose to the General Shareholders’ Meeting a dividend of 1.2938 euros per share charged to the 2022 profit and retained earnings. This proposed dividend would mean an increase of 35% on the dividend charged to the 2021 profit (€0.9556/share) and represents 35% of the net profit for 2022 attributed to the parent company.

OUTLOOK
At the end of 2022, ROVI exceeded the higher end of its operating revenue guidance range (15% – 20%), standing at 26%.
For 2023, ROVI expects its operating revenue to show low-double-digit negative growth on 2022, although a positive growth of between 5% and 10% is expected in comparison with the 2021 figure.

For 2023, ROVI is assuming a new post-pandemic scenario in which COVID-19 would foreseeably be a seasonal disease and, in principle, the vaccine would be administered once a year. For this reason, ROVI expects a stronger second half of the year compared to the first half regarding the CMO business. The first quarter of 2023 is expected to include revenues linked to the production of vaccines in the fourth quarter of 2022 but the second quarter of 2023 is expected to be the lowest quarter in terms of CMO sales.
Nevertheless, the  uncertainty related to the evolution of the disease is very high. It is not, therefore, possible to make a precise assessment of the impact that this new scenario could have on its CMO business. Likewise, under the terms of the agreement signed with Moderna in February 2022, ROVI is still investing in increasing the compounding, aseptic filling, inspection, labelling and packaging capacities at its facilities and expects them to be fully installed at the end of 2024. 

Taking account of the aforementioned guidance on a decrease in operating revenue in 2023, as well as the fact that ROVI will continue with its investment policy as stated, it is reasonable to expect that the Company’s profits may also see a downward adjustment in 2023.

On Sunday 5 February, the ROVI Team took part in the eleventh edition of the Fundación Manantial’s Race for Mental Health.

With the objective of raising awareness and promoting mental health through sport, around 50 ROVI employees and more than 2,000 runners ran through the centre of Madrid to break down stigma and promote social inclusion. The funds raised will go to Fundación Manantial’s employment projects, which facilitate the inclusion of more than 300 people in the labour market.

Despite the cold, our colleagues were able to enjoy together one of the most beautiful races at the beginning of the year. And to share their experience, they wanted to share with us the video of this edition, don’t miss it!

This Monday, the Romanian Minister of Health, Alexandru Rafila, visited the ROVI plant in Alcalá de Henares. The Chief of Staff of the Romanian Health Ministry, Raluca Puiu, and the Romanian ambassador to Spain, George Gabriel Bologan, were also present. The Romanian authorities were accompanied by ROVI’s Chairman and Chief Executive Officer, Juan López-Belmonte, the Industrial Manager, Miguel Ángel Ortega, and the Manager of the Alcalá de Henares plant, Pilar García-Morato Saro.

The ROVI plant in Alcalá de Henares is one of the Laboratory’s three plants engaged in the CMO (contract manufacturing organisation) business, the purpose of which is to respond to the growing need for pharmaceutical companies to outsource their manufacturing processes. The Alcalá plant specialises in the production of oral solid forms and has become a centre of excellence for the group’s packaging of both solid products and injectables.

ROVI is one of the main sector companies in the high value-added CMO business, with exports to over 50 countries. The majority of its sales are international and it is highly technologically specialised in the area of manufacturing vaccines, biological products and biosimilars, all of which are products with a recognised therapeutic value.

During the visit, the Romanian Health Minister, Alexandru Rafila, observed the plant’s manufacturing processes in detail and met with Juan López-Belmonte, the Chairman and Chief Executive Officer of ROVI.