rovi This Thursday opened with a stock market crash of more than 8% after the publication of the results for the first three quarters of the year. The company of Ibex 35 reduced its 4% net profit during the first nine months of 2024, compared to the same period of 2023, in the amount of 113.5 million euros, as declared by the company in National Securities Market Commission (CNVM) this Thursday.
Furthermore, the pharmaceutical company Rovi announced that it would not launch its product to treat schizophrenia in adults, RisvanIn USAwhich caused its stock to fall on the Ibex 35, with a drop of 8.39% to 69.3 euros per share around 9:15 a.m.
During the first nine months of 2024, Rovi saw its revenue decline by 2%. Ebitdareaching 167.2 million euros, and its Ebitda margin it increased slightly to 29.6%.
He EBIT also decreased by 4%, standing at 146.6 million euros, while operating profit decreased by 5%, reaching 564.6 million euros, mainly affected by the reduction of its manufacturing division. third party manufacturinglinked to the drop in demand for the production of vaccines against COVID-19[feminine.
Rovi Sales
However, the sales of the own-account manufacturing division increased by 16% in the third quarter compared to the same period of 2023, for a total of 134.4 million euros. Rovi forecasts a drop in its operating profit of between 0% and 10% at the end of 2024 compared to 2023, and maintains a similar forecast for 2025.
Rovi also announced during the presentation of its results that it would not market its product for the treatment of schizophrenia in adults, Risvan, in the United States, “after evaluating the uncertainties and opportunities linked to this launch” .
The pharmaceutical laboratory is therefore committed to the European development of OkediRovi’s first product based on its cutting-edge drug delivery technology for the treatment of schizophrenia in adults, and hopes to achieve potential global sales of this product of between €100 million and €200 million in the years to come.
Over the first nine months of the year, Okedi sales reached 20.3 million euros, or 126% more than for the same period in 2023.
“2024 is a key year to lay the foundations for Rovi’s future. We are in a growth phase focused on increasing our productive capacities in the third-party manufacturing sector and on strengthening the internationalization of the company”, underlined the president and CEO of Rovi, Juan López-Belmonte Encina.
