ROVI Rocks!

The European Investment Bank (EIB) is providing Laboratorios Farmacéuticos Rovi (ROVI) with a new EUR 50 million loan to finance its RDI activities for new developments in the ISM® prolonged drug-release technology, patented by ROVI, in fields such as oncology and the central nervous system, as well as the development and expansion of product applications in the glycomics field.

The agreement was signed in Madrid by Ricardo Mourinho Félix, European Investment Bank Vice-President, and the Chairman and CEO of ROVI, Juan López-Belmonte.

ROVI is a Spanish company specialised in researching, developing and marketing proprietary pharmaceuticals. It is currently participating in the manufacture of the active substance, as well as the fill & finish for the Moderna Covid-19 vaccine. ROVI is specialised in the manufacture of low-molecular-weight heparins (LMWHs), which the WHO recommends as essential medicines for patients hospitalised in intensive care units due to Covid-19.

The EIB loan helps to accelerate ROVI’s RDI strategy by supporting the investments of this highly innovative company. 

The financing will generate considerable positive externalities for the European pharmaceutical industry, contributing to the EU efforts to cover unmet health needs and secure qualified jobs.

Ricardo Mourinho Félix, European Investment Bank Vice-President said: “The EIB is committed to promoting RDI investment in Spain whilst helping preserve skilled employment. A European company that can significantly contribute to the solution of the current and future pandemics provides a significant strategic advantage for Europe and Spain. I am pleased that this loan will help ROVI to contribute to the competitive search to enhance pharmaceutical knowledge in Europe in areas that are important for the improvement of the health of its citizens”.

Juan López-Belmonte Encina, chairman and chief executive officer of ROVI, said: “Innovation and research form part of our identity as a pharmaceutical company, given that we bet on solutions that improve people’s health. At ROVI, we have a sound R&D strategy that makes us optimistic, since we hope that, as a result of the new launches, R&D will become one of the group’s strategic drivers in coming years. Therefore, the fact that the BEI has again placed its confidence in us so that we can continue to progress with our R&D projects represents a great opportunity for our company”.

Finance for research and development activities

The EIB’s loan will finance ROVI’s R&D activities in various drug delivery technologies with a particular focus on psychiatry and oncology, and the development and improvement of products in the glycomic area. It will also support pre-clinical and clinical development (clinical trials, regulatory approvals) research and development, market access and international roll-out of the company’s pipeline of in-house developed products.

Second EIB loan to ROVI

ROVI has been working with the EIB since 2017. Prior to this newly signed loan, the EIB had granted a EUR 45m loan to ROVI to finance its RDI programme focusing on technologies for the administration and extended release of medication related to treatments to fight cancer and nervous system diseases.

We want to share with you why you are so important to ROVI’s cyber security

The registration period for the XXI edition of the Descent of the Sella of the Fundación También is open. During the 29th, 30th and 31st of July you will be able to enjoy this unique activity with your colleagues.

VERY LIMITED PLACES

Eligibility requirements:

Please note that the activity focuses on accompanying a person with disabilities (motor, visual…) on a canoe trip along the Sella. For this reason, minimum physical abilities are required to do it safely. It is essential:

• Sporting experience
• Basic knowledge of canoeing

The foundation will make the final selection of volunteers according to the needs they have in accompanying its members.

Sign up HERE

You have until 12 July. If you have any doubts or queries, please ask Gonzalo Álvaro Saiz (galvaros@rovi.es).

Today, Laboratorios Farmacéuticos Rovi, S.A. held its Ordinary General Shareholders’ Meeting, at which the year 2021, marked by the company’s historic growth, was evaluated. ROVI achieved a 54% increase in its operating revenue. This increase was principally driven by the strength of the contract manufacturing business, which grew by 189%, and the specialty pharmaceutical business, whose sales rose 17%. “The year 2021 was historic for our company, which reaffirmed its original commitment to global health,” said Mr Juan López-Belmonte Encina, ROVI’s Chairman and Chief Executive Officer.

In his speech, he highlighted the value of the achievements reached in the year, which positioned ROVI as “one of the companies with the greatest knowledge in the low-molecular-heparin field and able to aspire to expand its global presence over the years to come.” Furthermore, in 2021, “ROVI continued to be the leader in specialty pharmaceuticals in Spain, while, as a result of the agreements with Modena, the contract manufacturing business gained a large amount of public visibility, confirming what we had always known: it is a strong driver that will help the company to grow in future years.”

The Chairman and CEO also highlighted “the work and commitment of the group’s employees overall” in reaching milestones that were important to ROVI in the year, such as achieving carbon neutrality for the second consecutive year or obtaining the second best score in the ESG ranking drawn up by the company Sustainalytics.

The Deputy Chairman and Chief Financial Officer, Javier López-Belmonte, provided an update on the R&D strategy of the company, “which is entering into a wonderful new phase after receiving the marketing approval for Europe of our first ISM®-technology-based drug.” He said that “our first large project with this technology, which was patented by ROVI, is a product for schizophrenia, a disease that affects over 21 million people worldwide” and added that “the application for marketing authorisation for Risperidone ISM® in the United States is awaiting the response of the United States regulatory authority.”

ROVI is working to reduce its environmental impact and, thanks to its Avoid, Reduce and Compensate strategy, has achieved CO2 neutrality.

Compensating emissions through the financing of high environmental impact projects by 2021 has been key to achieving these goals.

Do you want to know them? Don’t miss the following video.

At ROVI we work every day to protect our most precious treasure, the environment. That’s why, coinciding with the celebration of World Environment Day, we would like to bring you one of the goals we are most proud of achieving year after year:

Achieving carbon neutrality

Do you want to know how this is possible? Find out why at ROVI we are GREEN

Do you know your carbon footprint?

Every time we travel by car, print a document or use a computer at work we leave behind a trail of gases that accumulate and accelerate climate change. This trail is the carbon footprint.

The carbon footprint is much more present than we think in our daily lives. That’s why we want to tell you how we work at ROVI and how you can help us.

Don’t miss the video we have prepared for you!

Have you heard about the offers we have prepared for the month of June?

The Manantial Foundation has held the 11th edition of the Miradas Award, which recognises the work of organisations and individuals who help to reduce stigma, create employment or improve the care and quality of life of people with mental health problems. In this regard, it has recognised Laboratorios ROVI with its Solidarity Seal, a distinction for companies that are committed to inclusion in the workplace by incorporating people with mental health diagnoses into their workforces.

Javier Angulo, Director of Human Resources at ROVI, emphasises that “ROVI is committed to the integration of people with disabilities or stigmatised groups, such as people with mental illnesses, into the workplace. For the past four years, ROVI and Fundación Manantial have been cooperating in the search for candidates to fill jobs at our plants in Alcalá, San Sebastián de los Reyes and Julián Camarillo, and the experience has been very positive”.

The Minister of Inclusion, Social Security and Migration, José Luis Escrivá, was in charge of presenting the Solidarity Seals to the companies. In addition, the presenter, monologuist, scriptwriter, actor and streamer Ángel Martín was awarded the Miradas de Fundación Manantial Prize for his work in information and social awareness through the publication of his book and podcast Por si las voces vuelven.

The Recover Foundation is here to challenge us to reach another year of 5,000 km together. Can you help us to achieve it? Sign up and don’t miss out.

ROVI has published the financial results recorded in the first quarter of 2022. Among the main indicators obtained, the following stand out:

• Operating revenue increased by 57% to 205.6 million euros driven by (i) the strength of the contract manufacturing organization (“CMO”) business, which grew by 167%, and (ii) the specialty pharmaceutical business, where sales rose 16%.
• EBITDA increased by 113% to 74.3 million euros and Net profit increased by 123% to 53.0 million euros. 
• Sales of the heparin franchise (Low Molecular Weight Heparins (LMWH) and other heparins) increased by 19% to 75.9 million euros.
• Sales of prescription-based pharmaceutical products rose 17% to 100.5 million euros in the first quarter of 2022.

• Sales of the enoxaparin biosimilar increased 50% to 44.2 million euros in the first quarter of 2022 mainly because of (i) the launch of the product in four new countries in the first quarter of 2022 and (ii) the increase in the demand for the product in countries where we are already present.

• In April, Okedi® (Risperidone ISM®) was launched in Germany for the treatment of schizophrenia in adults for whom tolerability and effectiveness has been established with oral risperidone.

ROVI is in a new phase of growth, supported by the strength of the third-party manufacturing business and the pharmaceutical specialties business, and exptects its operating revenue to increase by between 15% and 20% for 2022.