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This is Hovione's first year beyond the USD 100 million mark. This salesincrease reflects the drug approvals by our customers both in the Innovatoras well as the Generic segment. Hovione's offering also includes the fastgrowing particle design and inhalation formulation services. All of our 4businesses have a growth outlook and present synergies between them.
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In 2007 Hovione invested significant amounts in particle designtechnologies, in new production lines and in the constant upgrade of ourfacilities worldwide. We have concluded the acquisition of a 75% stake in theshare capital of Zhejiang Taizhou Hisyn Pharmaceuticals Co, Limited (Hisyn)in December 2007 and Hovione retains the right to acquire the remaining 25%at a future date. Hisyn provides us with an excellent opportunity to leverageour 25 years of operations in Hong Kong and Macau, and positions Hovioneideally for a low cost, high volume strategy in contrast agents.
"Despite the negative economic environment, we face 2008 with optimism.In 2005 we set a goal to be selling $150m by 2010 with all the sales increasedriven by organic growth. I expect us to be ahead of target this comingyear." adds Guy Villax, Chief Executive.
Hovione is an international group specializing in the development andcompliant manufacture of active pharmaceutical ingredients, servingexclusively the pharmaceutical industry. With a 50-year track record, Hovioneoffers advanced technologies as well as APIs for all drug delivery systems,from oral to injectable and from inhalation to topical applications. With FDAinspected plants in Europe, the Far East and the US, Hovione is committed tothe highest levels of service and quality. Specializing in complex chemistryand in particle engineering, Hovione offers all services related to thedevelopment, manufacture and pre-formulation of both new chemical entities(NCEs) and existing APIs for off-patent products.
For further information about Hovione, please visit the Hovione site athttp://www.hovione.com or contact Corporate Communications (Isabel Pina,+351-21-982-9362, e-mail: [email protected]).
SOURCE Hovione
