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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.€775m
Last close€15.50
High / Low (52 weeks)€17.6 / €14.8
Stock market listingSP
Forecast net cash (€m)1.9
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(4.6)(5.8)(2.3)
Relative *0.12.812.3

* % Relative to local index

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Company news

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 26.7 33.0
2017A 275.6 30.5 20.3 39.99 38.8 26.7
2018E 293.6 26.4 16.4 31.43 49.3 16.8
2019E 314.9 37.5 27.0 51.63 30.0 43.1

Last updated on 12/09/2018

Investment summary

ROVI, a profitable, speciality healthcare company, markets ~40 proprietary and in-licensed products across nine core franchises mainly in its domestic Spanish market. ROVI is at a major inflection point; it has launched its internally developed biosimilar enoxaparin into multiple European countries ahead of any competition; this is a key driver of sales and operating growth in the medium term. R&D progress continues with its proprietary ISM technology, notably with Risperidone ISM or DORIA, a long-acting injectable for schizophrenia, which is expected to read out data in Q219 from its Phase III PRISMA trial.

Last updated on 28/09/2018

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 28/09/2018

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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