Industry in brief | Ipsen, Recordati, Genomma

Industry in brief | Ipsen, Recordati, Genomma

30 October 2020 - Deborah Wilkes

France’s Ipsen, Italy’s Recordati and Mexico’s Genomma Labs have recently released financial results.

Consumer Healthcare down at Ipsen

Ipsen said sales by its Consumer Healthcare business had dropped by 23.1% as reported to EUR154 million (USD182 million) in the first nine months of 2020. At constant currencies, sales were down by 21.4%.

The gastrointestinal product Smecta was Consumer Healthcare's largest product, but sales were down by 35.2% at constant currencies to EUR58.0 million. Ipsen said the fall reflected the negative impact of COVID-19 in China and other territories, Chinese hospital central procurement policy and weakness in France.

Sales of the second-largest product, the Forlax laxative, were up by 2.7% at constant currencies to EUR30.0 million.

The Tanakan ginkgo biloba product, recorded sales up by 4.1% at constant currencies to EUR26.6 million. Ipsen said growth had been driven by positive market dynamics in Russia.

Sales of Fortrans/Eziclen decreased by 22.4% at constant currencies to EUR19.0 million. Ipsen said the fall was mainly due to the impact of COVID-19 in China and Russia.

Sales of Other Consumer Healthcare products dropped by 24.7% to EUR20.4 million at constant currencies.

The Consumer Healthcare business generated 8.1% of Ipsen’s sales of EUR1.90 billion in the first nine months of 2020, which were up by 1.5% as reported compared to the same period a year earlier. At constant currencies, sales were up by 2.8%.

The majority of the French pharmaceutical company’s sales – 91.9% – came from the Specialty Care business, which reported sales up by 4.4% to EUR1.75 billion.

Recordati’s nine-month results

Recordati said the OTC business generated 18.2% of its worldwide sales in the first nine months of 2020, which were down by 0.6% to EUR1.09 billion (USD1.27 billion).

The Italian pharmaceutical company said its OTC sales had declined year-on-year by a “low single-digit” and were “starting to show signs of stabilisation”.

Commenting on the 0.6% fall in total sales, Recordati said this was due to the COVID‐19 pandemic plus devaluation of the main currencies against the euro. On a constant currency basis, sales rose by 1.1%.

Recordati noted that the prescription drugs Signifor, Signifor LAR and Isturisa, which were acquired recently from Novartis, had contributed sales of EUR53.8 million.

Around 80.9% of the Italian pharmaceutical company's sales were generated outside of its home market. International sales were up by 0.6% to EUR885 million.

Recordati's operating income grew by 3.0% to EUR364 million, representing 33.3% of sales.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 7.1% to EUR439 million, representing 40.1% of sales.

Genomma reports OTC sales up by a fifth

Mexico’s Genomma Lab reported OTC sales up by a fifth in the third quarter of 2020, despite a small drop in sales in its home market.

Genomma's OTC sales rose to MXN1.84 billion (USD88.8 million) in the quarter, representing growth of 21.1% compared to the same period a year earlier.

The OTC business generated 53.8% of the company's total sales. The rest came from sales of personal care products, which were up by 1.9%.

Looking at countries/regions, Genomma’s OTC sales in Mexico dropped by 0.3% to MXN914 million. By contrast, OTC sales in Latin America rose by 68.7% to MXN662 million, and OTC sales in the US were up by 25.7% to MXN267 million.

Genomma’s total sales – including personal care products as well as OTC – were up by 11.4% to MXN3.43 billion.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 24.7% to MXN769 million in the third quarter of 2020, giving an EBITDA margin of 22.4%

Genomma is present in 18 countries including Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and the US.

The company has just announced a commercial alliance with Interbrands Group whereby a hand sanitiser sold under the Bufferin brand will be launched in the US. The products should be available in stores by the end of the year.

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