Author: Gonzalo Alvaro

Laboratorios Farmacéuticos ROVI announces the financial results obtained in the first quarter of 2024, that is critically important in establishing the bases for ROVI’s future growth.

The company closed the first quarter of 2024 with operating revenue of 151.2 million euros, EBITDA of 25.9 million euros and a net profit of 15.0 million.

Revenue from the CDMO business decreased 48% to 50.1 million, mainly due to lower revenue from manufacture of the COVID-19 vaccine in comparison with the first quarter of 2023, when ROVI booked higher revenue from production of the ”pandemic” vaccine and lower revenue related to the activities to prepare the plant for production of the vaccine under the agreement with Moderna.

Sales of the heparin franchise (low-molecular-weight heparins and other heparins) fell 8% to 56.3 million euros in the first quarter of 2024, due to a lower volume of orders from partners, since they held a higher level of stocks of these products from the fourth quarter of 2023. Sales of Risperidone ISM® evolved positively upwards to 5.4 million euros in the first quarter of the year, multiplying the 2023 first quarter figure by 2.4. In March 2024, ROVI received FDA approval for the marketing of Risperidone ISM® in the United States to treat schizophrenia in adults.

This is a historic milestone for the company as this is the first of its own product to receive marketing authorisation in the United States, the most important market worldwide for long-acting injectable antipsychotics.

Additionally, in the first quarter of 2024, ROVI approved marketing authorisation for this product in Canada and Australia. Research and development expenses rose 17% to 6.1 million euros and were mainly related to the development of phase 1 of Letrozole LEBE and the development of phase 1 of the new formulation of Risperidone ISM® for a three-monthly injection. Additionally, we were able to decrease operating expenses, excluding R&D and employee benefit expenses, by 11% as the result of an efficient cost containment policy.

Regarding guidance for 2024, ROVI expects its operating revenue to decrease by a mid-single-digit percentage, although this guidance considers certain factors that could affect the estimates but are difficult to specify at the present time. ROVI is in a new phase of growth and has confidence in the development potential of its specialty pharmaceuticals division and its CDMO business.

Sign up for the 1st Paddle Tennis Tournament just for ROVI employees. Form a couple. It can be mixed, male or female.

Date: 27th and 28th of April from 16:00 to 21:00

Place: Club Fuencarral A LA PAR

Category:

• Beginners
• Medium
• Advanced

Register HERE

Deadline: 5 April at 17:30

Last Wednesday, the Alcalá de Henares plant received an institutional visit from the Mayor of Alcalá de Henares, Judith Piquet, accompanied by the Councillor for Economic Development and Employment, Antonio Peñalver; the Councillor for Health, Teófilo Lozano; the President of AEDHE, Laly Escudero; and the Manager of EPE Alcalá Desarrollo, Manuel García. With this visit, the municipal team was able to learn about the Group’s activity, as well as the plant’s new projects.

During their tour of the facilities, they were accompanied by ROVI’s Vice-President and General Manager of Industrial Operations and Finance, Javier López-Belmonte, the Director of the Industrial Area, Miguel Ángel Ortega, the Plant Manager, Pilar García-Morato, and the Corporate Director of Engineering, José Cristóbal.

The Alcalá de Henares plant employs more than 500 workers and houses not only production lines specialising in the manufacture of oral forms and the packaging of injectable solids, but also one of the company’s research and development centres. In recent months, ROVI has made a series of investments to expand industrial capacities. It is currently constructing a building to house new production lines that will be operational by 2025.

At ROVI we are committed to the environment, safety, health and physical and emotional well-being at work. As part of this commitment, we work every day on the basis of two management systems:

Environmental management system

We are based on a model whose pillars are the sustainable use of resources, energy efficiency and the implementation of the circular economy in our processes.

Health and safety management system

Focusing on technological innovation to eliminate hazards and reduce risks in the workplace.

Our commitment is known and disseminated to all interested parties through the Integrated Policy. This is why ROVI sets out its principles in terms of safety, health and the environment in:

OUR COMMITMENT GOES BEYOND WHAT IS REQUIRED. Not only do we comply with national and international legal requirements, but we also work to develop the concept of sustainable development throughout our value chain.

TO BE THE BEST. We optimise the use of natural resources and analyse risks in order to develop an efficient model of safety, health and environment.

CONTINUOUS IMPROVEMENT. We are committed to being better every day, defining objectives and goals that ensure a more sustainable future, incorporating new technologies and practices into our processes.

Last Sunday, the ROVI Team went out for a run, ready to break down walls with their running shoes. Specifically, the wall of stigma and discrimination suffered by people with mental health problems. And there is no better event than the Race for Mental Health, organised by the Fundación Manantial, to highlight the importance of social and occupational inclusion for people suffering from these pathologies.

In this year’s edition, setting a new record for participation, nearly 200 ROVI employees set out to run through the centre of Madrid, accompanied by more than 3,000 runners. The route, which varied between 10, 5 and 2.8 km depending on the mode, took the participants through a circuit that started in the Parque del Oeste, crossed Plaza de España to the Royal Palace and turned around leaving Colón behind.

ROVI smashed the record for the number of participants in the last event of the year, the Companies Race 2023. With 101 employees registered in 31 teams, Team ROVI almost tripled the number of runners compared to the previous year.

A race with the Madrid Skyline as a backdrop

Starting and finishing in San Juan de la Cruz Square, the race ran along the Castellana, passing through Nuevos Ministerios, the Santiago Bernabéu stadium and, for the long runners, Colón Square. A route with two modalities (6.5 km and 10 km) that brought together 17,000 runners, belonging to more than a thousand companies. It was a celebration of health and physical exercise.

Do you want to know how your colleagues did?

Don’t miss the video of the race.

Make your savings profitable!

ROVI employees can take advantage of special offers when opening interest-bearing accounts and deposits at Banco Cooperativo Español:

• Enjoy the conditions of the Remunerated Account: Open an account with the amount you want in exchange for remuneration at a fixed interest rate.
• Special offer for opening a Fixed Term Deposit: Deposit the amount you want for six months or one year in exchange for a fixed interest rate.

Working at ROVI has its advantages

For more information, please consult the document below:

Laboratorios Farmacéuticos ROVI announces its financial results for the first nine months of 2023. The company closed the period with operating revenue of 594.9 million euros, EBITDA of 171.2 million euros and a net profit of 118.8 million euros.

The CDMO business, which is one of the pillars of ROVI’s business strategy, showed a 7% increase on the first nine months of 2022, totalling 287.6 million euros.

ROVI’s injectables manufacturing plants in Madrid, San Sebastián de los Reyes and Alcalá de Henares were approved by the FDA for the fill-and-finish of syringes with the messenger RNA COVID-19 vaccine. Thus, ROVI also expects to produce Moderna vaccines for supply in the United States.

Heparin division sales (low-molecular-weight and other heparins) dropped 10% to 181.7 million euros in the first nine months of 2023. This was due to the difference between the increase in the orders placed by partners in 2022 related to the treatment for COVID-19 and the lower volume of orders from partners in 2023.

Risperidone ISM® sales evolved favourably and totalled 9 million euros. This product showed growth of 27% in the third quarter of the year in comparison with the second quarter of 2023.

R&D investment rose to 16.5 million euros and was mainly linked to development of the phase I of Letrozole LEBE and the development of phase I of the new three-monthly formulation of Risperidone ISM®.

Regarding the process for marketing authorisation for Risperidone ISM® in the United States, the FDA has notified ROVI of the new user fee goal data, which will be 29 March 2024.

ROVI is again raising its operating revenue guidance for 2023 from a high-single-digit percentage decrease on 2022 to stable sales.

For 2024, ROVI expects its operating revenue to decrease by a mid-teen percentage in comparison with 2023. Notwithstanding, this guidance depends on factors the impact of which is difficult to estimate at present, such as:

• -Evolution of the demand and production in the 2024 COVID-19 vaccination campaign, since the 2023 campaign is still in progress;
• -Potentially obtaining new customers in the CDMO area, with the resulting impact on sales; and
• Potential sales of Risperidone ISM in the United States once it has received marketing authorisation from the FDA.

Join the ROVI’s Team and take part with your colleagues and family members in the Fundación También charity race.

The funds raised will go to the foundation’s sports programme, which works for the inclusion of people with disabilities and promotes education in values through sport.

• When: 5 November
• Where: Valdebebas – Madrid
• Categories: 1km, 5km and 10km

Register HERE
You have until 19 October