Since the pandemic, Laboratorios Farmacéuticos ROVI (hereinafter ROVI) has been in a transition phase, creating value for the future. 2024 is key to establishing the foundations for the group’s future.
Laboratorios Rovi is in a growth phase focused on increasing its production capacities in the third-party manufacturing business and reinforcing the internationalization of the company with Risperidona ISM®, its first innovative product based on ISM® technology that is already available. being marketed in the main European markets. In this context, the positive evolution of this product has stood out, whose sales increased by 126% in the first nine months of 2024 compared to the same period of the previous year. ROVI is therefore committed to the European development of this product and hopes to achieve potential global sales of between 100 and 200 million euros in the coming years.
On the other hand, ROVI is advancing in the clinical development of Letrozole LEBE, a quarterly formulation for the treatment of hormone-dependent breast cancer, whose objective is to achieve bioequivalence of plasma levels of the drug compared to the administration of doses of 2.5 mg oral daily. , and on which it expects to obtain results in the first half of 2025.
Third party manufacturing
On the other hand, there is no doubt that the third-party manufacturing (CDMO) business will be another catalyst for ROVI. In recent years, the group has invested significant capital to build global leadership in sterile filling and finishing technological services and capacity that will allow it to continue capitalizing on the significant imbalance between available supply and growing demand in the filling and finishing market. finished in aseptic conditions. In this context, ROVI has worked on a process of evaluating different strategic alternatives to enhance the value of its assets, which included a possible ROVI corporate operation related to the CDMO business. After due analysis of the offers received, ROVI concluded that the CDMO business will generate greater value for all shareholders by maintaining the current group structure.
ROVI has taken a key step by investing in its facilities in Madrid, San Sebastián de los Reyes, Alcalá de Henares and Granada with the aim of expanding the manufacturing capacity of injectables and substantially increasing its current capacity in the coming years. In this way, ROVI aims to continue capitalizing on the existing imbalance in this market that presents multiple business opportunities and growing demand, including innovative biological products, biosimilars, vaccines and other innovative segments for prefilled syringes and cartridges.
An example of this trend has been the contract signed this year with a global pharmaceutical client for the manufacture of prefilled syringes with which it hopes to achieve an increase in the income of ROVI’s CDMO division of between 20 and 45% compared to to 2023 sales from 2027, first full year of expected recurring manufacturing.
A 2025 of stability
For 2025, ROVI expects its operating income to decrease in the middle band of the first ten (i.e., between 0% and 10%) compared to 2024. However, there are certain factors considered in the calculation of these forecasts that could be relevant in the estimates and whose realization is difficult at this date, such as the evolution of the 2024 flu and covid-19 vaccination campaign that is still ongoing and that, as of today, ROVI is not in a position to predict how the 2025 vaccination campaign will evolve, and the incorporation of new clients in the CDMO business.
In the long term, ROVI is committed to Risperidona ISM®, the expansion of its third-party manufacturing capabilities and the clinical development of Letrozole LEBE. This strategy, together with its commitment to financial sustainability, consolidates the Group’s position as a potential European industrial benchmark with global projection.