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Fagron Press Release

Thu, 20/04/2017
Excellent Q1 results for Fagron

Regulated informationNazareth (Belgium)/Rotterdam (The Netherlands)1, 13 April 2017

Fagron: Turnover increases by 7.1% to € 109.9 million

Key points

Turnover growth in Europe, South America and in the sterile activities in North America

Sales of pharmaceutical raw materials in North America stabilize in first quarter of 2017

New facility for sterile compounding in Wichita (Kansas, US) operational since the end of March 2017

Hans Stols, Fagron CEO: "The sterile compounding activities in the United States and the activities in South America and Europe have developed positively in the last quarter. As a result of our strong, often leading, market positions within Europe, we were able to achieve turnover growth in almost all countries. The substantial strengthening of the Brazilian real relative to the US dollar has resulted in purchasing advantages for our activities in Brazil. Although our customers in Brazil benefited from lower sales prices, turnover increased at constant exchange rates. Our Brazilian activities were able to achieve significant growth in volume and to further strengthen its market leadership in Brazil.

Sales of pharmaceutical raw materials in the United States stabilised compared to the last quarter of 2016. This marks a clear turnaround compared to decreasing turnover during the last six quarters.

The new 503B compounding facility in Wichita (Kansas) has been operational since the end of March. The new facility is currently licensed in 43 states. As management, we are positive about the opportunities and potential this new facility offers. We anticipate that the facility will generate about 100 million US dollars of turnover within three to five years.

For 2017, we remain positive about the opportunities in the various markets in which we are active."

 

Please see Press Release in attachment.