Sales at Hovione grow 15%

US$144m for fiscal year ending 31 March 2010

Consolidated sales at Hovione grew 15% to US$144m for the year ending 31 March.

During 2009, the Portuguese API specialist celebrated its 50th anniversary. The company also doubled its quality production capacity with the acquisition of an API manufacturing facility from Pfizer, in Cork, Ireland, as well as a state-of-the-art Aseptic Spray Drying (ASD) manufacturing line.

In addition, Hovione expanded its production capacity of contrast agents at the Hisyn site in China.

‘ASD capability is core to our strategy and Hovione is committed to remaining the global industry leader in spray drying,’ said Hovione’s chief executive Guy Villax.

Miguel Calado, chief financial officer, said it was another strong performance.

‘During the last five years Hovione has increased sales by 77%, has gone from three to five industrial plants and has passed the 1,000 team members mark,’ he added.

In spite of the ‘difficult’ economic environment, Hovione remains confident that 2010 will be another year of solid growth.

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