Rovi multiplies its manufacturing business for third parties by six after the vaccine

Rovi’s revenues in the third-party manufacturing business area have multiplied by six since it signed an agreement with Moderna to produce the covid vaccine. In 2019 the pharmaceutical company entered 65.6 million euros and last year the figure reached 403.5 million. Although the company does not disclose what percentage of this money corresponds directly to US serum, the growth forecasts that existed before the pandemic make it clear that a large part of that amount comes from Moderna.

In 2019, the company expected this business to grow between 10 and 20%, but the signing of the contract with the American company in the summer of 2020 caused an annual growth of 39% for just one month of work (The vaccine was approved at the end of November of that year). Since then, the increase in 2021 was 189% (the great year of the vaccination campaign) and last year it reached 52%. The business that Rovi got completely changed the pharmaceutical paradigm. In fact, in this period the company reached the Ibex 35.

In the almost three years of association with Moderna, Rovi has also had to undertake investments to take on the assignment. However, the numbers say that the return has been much higher. In 2022, Rovi explains to this newspaper that investments related to new manufacturing lines for Moderna reached 17.2 millionmuch less than the 403 million admitted, although not all respond to the vaccine.

However, the serum will have less presence in Rovi’s income statement every day. The company is aware of this and has already warned that its revenues will drop by up to 20% this year compared to 2022. For this reason, the current strategy involves finding a new partner to produce for and thus maintain as much as possible. possible the figures of the manufacturing business to third parties.

It is also true that the agreement with Moderna is not limited to the coronavirus vaccine. Both pharmaceutical companies have established an alliance for a decade. In addition to producing this serum, the only American product on the market today, Rovi will be able to produce any of its vaccines or treatments based on messenger RNA technology. The biotechnological company has a serum against the flu and another against the respiratory syncytial virus in the last phase of a clinical trial.

Along with the collaboration with Moderna, Rovi also expects both heparins and its new schizophrenia product to generate higher revenue. In the case of the last mentioned drug, it already has the European yes and now it will gain countries, while in the US the decision will be made in July.

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