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Laboratorios Farmacéuticos ROVI (ROVI)

Business description

Laboratorios Farmacéuticos ROVI is a fully integrated Spanish speciality pharmaceutical company involved in the development, in-licensing, manufacture and marketing of small molecule and speciality biologic drugs with a particular expertise in low molecular weight heparin (LMWH).

Stock data

Market cap.€832.5m
Last close€16.65
High / Low (52 weeks)€17.6 / €14.7
Stock market listingSP
Forecast net cash (€m)1.9
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual1.2(2.6)4.1
Relative *5.05.916.2

* % Relative to local index

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Company news

Laboratorios Farmaceuticos ROVI SA. (BME:ROVI): What Can We Expect From Future ...

Tue, 08 May 2018 06:22:30 GMT

Why Laboratorios Farmaceuticos ROVI SA. (BME:ROVI) May Not Be As Efficient As ...

Mon, 12 Mar 2018 10:07:30 GMT

BRIEF-Rovi announces update on risperidone project

Tue, 24 Oct 2017 07:41:15 GMT

BRIEF-Rovi Updates Status Of The Pivotal PRISMA-3 Study Of DORIA

Thu, 10 May 2018 05:26:15 GMT

BRIEF-Rovi Signs Agreement With Hikma To Distribute Its Enoxaparin Biosimilar

Tue, 24 Apr 2018 08:03:45 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2016A 265.2 39.3 30.3 58.11 28.7 35.5
2017A 275.6 30.5 20.3 39.99 41.6 28.7
2018E 293.6 26.4 16.4 31.43 53.0 18.1
2019E 314.9 37.5 27.0 51.63 32.2 46.3

Last updated on 30/07/2018

Investment summary

Laboratorios Farmacéuticos ROVI (ROVI) has reported H118 operating revenue of €146.3m (+5.4% y-o-y), driven by substantial growth in the speciality pharmaceutical business (H118: €123.2m, +14% y-o-y). Flagship product Hibor (bemiparin) sales grew to €48.3m (H117: €42.6m) as ROVI takes advantage of changing market dynamics, notably in Spain (+16% y-o-y). Enoxaparin biosimilar (EB) has now launched in Germany, UK and Italy, with further rollout across Europe ongoing. ROVI continues to expect FY18 sales of between €20m and €30m (H118: €8.9m). Net profit for H118 was down to €7.6m (H117: €15.8m) mainly due to significantly increased R&D costs from the ongoing Risperidone-ISM Phase III trial and Letrozole-ISM Phase I trial. We value ROVI at €1.21bn or €24.1 per share.

Last updated on 30/07/2018

Industry outlook

ROVI has a strong presence in the Spanish heparin market (and select international markets through partners), where it has been manufacturing and marketing its flagship product Hibor (second-generation LMWH) since 1998.

Last updated on 27/07/2018

Key management

Javier Lopez-Belmonte Encina, CFO
Marta Campos Martinez, Investor Relations

Company address

C/ Juli√°n camarillo 35
Madrid
28037
Spain
+34 913756230
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