Companies in brief | Boiron, Ipsen, Recordati

30 October 2018 - Deborah Wilkes

Boiron, Ipsen and Recordati have just announced financial results.

Boiron's sales down by 1.1%

Boiron reported worldwide sales down by 1.1% at constant currencies to EUR436 million (USD496 million) in the first nine months of 2018. As reported, sales were down by 1.5% compared to the same period a year earlier.

The majority of sales, 60.4%, were generated in the homoeopathy specialist's home market of France, where sales dropped by 5.2% to EUR263 million.

Boiron's sales in Europe, excluding France, were down by 11.1% at constant exchange rates to EUR95.7 million, but sales in North America rose by 39.0% to EUR63.3 million. Sales in other countries were up by 25.0% at constant currencies to EUR14.0 million.

The company's sales in the third quarter of 2018 fell by 4.4% at constant currencies to EUR156 million. Boiron said the decline was mainly due to its businesses in France and Italy.

Ipsen sees strong growth for Smecta

Worldwide sales by Ipsen's Consumer Healthcare business fell by 1.1% at constant currencies to EUR71.9 million (USD81.8 million) in the third quarter of 2018. As reported, the fall was 2.8% compared to the third quarter of 2017.

The French pharmaceutical company said the performance had been impacted by a new contractual set up in China for Etiasa. Excluding Etiasa, sales would have been up by 5.0%.

Consumer Healthcare's largest product was the antidiarrhoeal Smecta, with sales up by 32.5% at constant currencies to EUR32.8 million. Ipsen said the rise had been mainly driven by the good performance in China and a negative inventory impact in 2017, as well as good performances in France, Italy and several emerging markets.

Sales of the Forlax laxative dropped by 8.4% at constant currencies to EUR9.5 million due to "competitive pressure", while sales of the Tanakan ginkgo biloba product fell by 10.7% to EUR9.6 million due to "competitive pressure in emerging countries and a market slowdown in France".

The Consumer Healthcare business generated 12.9% of Ipsen's total sales in the third quarter of 2018, which were up by 20.2% at constant exchange rates to EUR556 million.

The majority of Ipsen's sales – 87.1% – came from the Specialty Care business, which reported sales up 24.2% at constant exchange rates to EUR484 million.

Recordati's sales rise by 5.1%

Recordati reported worldwide sales of EUR1.01 billion (USD1.15 billion) in the first nine months of 2018, representing a rise of 5.1% compared to the same period a year earlier. Around 79.6% of Recordati's sales were generated outside the Italian pharmaceutical company's home market.

The OTC business accounted for 15.5% of Recordati's worldwide sales.

Recordati's operating income grew by 9.6% to EUR337 million, representing 33.3% of sales. Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 11.1% to EUR380 million, representing 37.5% of sales.

The family-owned company recently announced that a consortium led by private-equity firm CVC Capital Partners was acquiring a majority stake in Recordati for EUR3.03 billion (click here to read the News story).

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