Industry in brief | Recordati, Genomma, Daiichi Sankyo

Industry in brief | Recordati, Genomma, Daiichi Sankyo

2 August 2019 - Deborah Wilkes

Recordati, Genomma Lab and Daiichi Sankyo have released financial results.

Recordati wants more OTC assets

Recordati said the OTC business had generated 19.3% of its worldwide sales in the first half of 2019, which were up by 6.8% to EUR743 million (USD832 million).

Fritz Squindo, Recordati's managing director and chief financial officer, reiterated the company was seeking to acquire further OTC assets (click here to read the News story).

Around 79.1% of the Italian pharmaceutical company's sales were generated outside of its home market. International sales were up by 6.9% to EUR588 million.

Recordati's operating income grew by 4.6% to EUR243 million, representing 32.6% of sales.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 7.4% to EUR279 million, representing 37.6% of sales.

Recordati is now majority-owned by a consortium led by private-equity firm CVC Capital Partners.

Genomma Lab grows by 12.1%

Genomma Lab says its new growth strategy helped push sales up by 12.1% during the second quarter of 2019.

The Mexican company reported sales of MXN3.28 billion (USD170 million), representing a rise of 12.1% compared to the same period a year earlier.

Genomma's OTC sales increased by 7.5% to MXN1.48 billion in the second quarter of 2019, accounting for 45.1% of the company's total sales. The rest of Genomma's sales came from personal care products.

OTC sales in Mexico were up by 7.0% to MXN755 million, and OTC sales in Latin America rose by 9.7% to MXN550 million. In the US, OTC sales were up by 2.5% to MXN174 million.

Genomma's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) rose by 12.9% to MXN668 million, giving a margin of 20.4%.

Chief executive officer Jorge Brake said Genomma's new OTC manufacturing plant in Mexico had recently been given a sanitary licence by the national regulatory body COFEPRIS.

Genomma is present in 19 countries including Argentina, Brazil, Chile, Colombia, Ecuador, Peru and the US.

Accounting change affects Daiichi Sankyo

Sales by Daiichi Sankyo's OTC business in Japan fell by 16.1% year-on-year to JPY15.4 billion (USD146 million) in the three months ended 30 June 2019. The Japanese pharmaceutical company said the decrease was due to changes in accounting policy and sales were approximately the same level as the same period a year earlier.

The Japanese OTC business accounted for 6.2% of Daiichi Sankyo's total sales, which increased by 10.4% to JPY249 billion.

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