Nazareth (Belgium)/Rotterdam (The Netherlands), 14 April 2022 – 7.00 AM CET
Fagron reports 16% increase in revenue to € 156.4 million
Fagron, the leading global player in pharmaceutical compounding, today publishes its quarterly results for the period ending 31 March 2022.
- Strong top line growth despite challenging operating environment
- Revenue increased by 16.0% to € 156.4 million (10.2% at constant exchange rates), with growth across all regions
- Organic growth of 13.3% (7.6% at constant exchange rates)
- Navigating ongoing supply chain disruptions and risks
- Lingering pressure on supply chain due to COVID related issues with limited direct impact from Ukraine crisis thus far
- Inventory management and cost efficiency key focus areas to maximize product availability with centralized procurement team
- Continued rollout of disciplined acquisition strategy
- Acquisition of Hiperscan in Germany and Curaphar in the Netherlands further strengthens position in key markets
- Letco acquisition and simultaneous divestment of 80% of contract manufacturing division in North America
- Pharma-Pack acquisition in Belgium
- Further progress on environmental and social initiatives
- Installed 1,000 solar panels
- Launched the global female Fagron mentoring program
- Reporting on Compounding Services and Premium Pharmaceuticals consolidated
Rafael Padilla, CEO of Fagron:
“We have delivered robust results in the first quarter of 2022 through organic growth and M&A activities even though we are in the midst of an unpredictable operating environment given the lingering impact from COVID, ongoing supply chain challenges as well as rising inflation.
In line with our disciplined acquisition strategy, we completed three acquisitions in the first quarter of this year with a view to solidifying our position in key European markets. We also strengthened our position in North America with the acquisition of Letco, the integration of which is progressing as planned. We remain committed to further consolidating the market and adding capabilities to Fagron through a rigorous assessment of market opportunities.
Supported by the favorable underlying secular trends from increased personalization and healthcare focus globally, we remain committed to our strategic priorities and feel confident in our ability to deliver to our mid-term targets, despite the current challenging environment.”
Please open the link below for the press release: