Spain’s Rovi raises forecast after 2021 profit jumps 151%

MADRID, February 23 (Reuters)Spanish pharmaceutical group Rovi ROVI.MC raised its revenue forecast for 2022 as it posted a 151% increase in annual net profit on Wednesday, citing strong growth in contract manufacturing and specialty pharmaceuticals.

The company said it expects operating revenue growth of between 15% and 20% this year, up from a previous single-digit growth forecast.

Net profit jumped to 153.1 million euros ($173.36 million) in 2021 from 61.1 million euros, while operating income jumped 54% to 648.7 million, the company said.

The Madrid group, which has a partnership with Moderna mRNA.O to manufacture the COVID-19 vaccine, recently extended its contract with the US drugmaker to produce future drugs based on similar mRNA technology.

Calling the 2021 results “historic,” CEO Juan Lopez-Belmonte Encina forecast continued growth in specialty pharma and underscored the potential of the deal with Moderna.

“At the same time, we are confident in the potential of our current pipeline of R&D projects…because we believe they will drive the company’s growth in the future,” he said. declared.

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(Reporting by Nathan Allen; editing by Jason Neely)

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