In brief | Dermapharm, Venture Life, Navamedic

In brief | Dermapharm, Venture Life, Navamedic

25 August 2021 - Deborah Wilkes

Dermapharm, Venture Life and Navamedic have released financial results.

Dermapharm’s sales up by 13%

German pharmaceutical company Dermapharm reported sales up by 13% to EUR428 million (USD503 million) in the first half of 2021.

Commenting on the company’s Branded Pharmaceuticals and Other Healthcare Products segment, chief executive officer Hans-Georg Feldmeier highlighted the “continued high demand for products that strengthen the immune system, primarily the vitamin D compound Dekristol”.

Sales had also been boosted by the acquisition in March 2020 of the Allergopharma allergy business from Germany’s Merck KGaA, he said, as well as production of BioNTech’s vaccine for COVID-19.

Dermapharm noted that its Herbal Extracts segment had seen a “noticeable recovery in global demand for herbal extracts”.

The company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 57% to EUR135 million in the first half of 2021, giving an EBITDA margin of 31.5%.

EBITDA adjusted for one-off costs was up by 49% to EUR137 million. The adjusted EBITDA margin was 32.0%.

Venture Life seeks further acquisitions

Venture Life said it continued to explore acquisition opportunities as it reported sales in the first half of 2021 were expected to be down by around 18% year-on-year to GBP13.8 million (USD18.9 million).

The UK-based company said the fall was due to “much lower sales of hand sanitising gel and sales to its Chinese partner for Dentyl”.

Venture Life’s sales of hand sanitising gel were just GBP0.1 million in the first half of 2021, compared with GBP3.2 million a year earlier. The company said there remained significant levels of stock in retail channels.

Meanwhile, sales to the company’s Chinese partner for Dentyl were just GBP0.2 million in the first half of 2021, compared with GBP2.3 million a year earlier. Venture Life said the partner was still suffering from the impact of COVID-19.

Excluding these two revenue streams as well as the impact of the recent BBI acquisition, said Venture Life, the rest of the business had achieved overall growth of 9%.

Venture Life noted that its sales for the first half of 2021 included a contribution of GBP1.1 million from BBI following the acquisition in early June (click here to read the News story).

In addition to BBI, Venture Life recently announced the acquisition of a trio of oncology support products, including Gelclair, from Switzerland’s Helsinn Healthcare (click here to read the News story).

Navamedic sees strong Consumer Health growth

Navamedic reported sales of NOK125 million (USD14.1 million) in the first half of 2021, representing a rise of 27.5% compared to the same period a year earlier.

The Norwegian company said sales by its Consumer Health business had increased by 65% to NOK19.8 million.

ThermaCare had performed better than expected in several markets, said the company, and there had been a strong performance by Alflorex.

Navamedic’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were NOK6.86 million, compared with a loss of NOK1.41 million in the same period a year earlier. The EBITDA margin was 5.5%.

Navamedic is targeting annual growth of 20% from 2021 and has a mid- to long-term ambition to become a NOK500 million company.

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