GENOMMA LAB MANUFACTURING FACILITY GRANTED COFEPRIS OPERATING LICENSE FOR ALL ITS PHARMA / OTC MANUFACTURING LINES

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Genomma Lab Internacional, S.A.B. de C.V.

Aug 07, 2023, 09:00 ET

MEXICO CITY, Aug. 7, 2023 /PRNewswire/ -- Genomma Lab Internacional, S.A.B. de C.V. (BMV: LABB) ("Genomma Lab" or "the Company"), one of the leading pharmaceutical and personal care product companies in Mexico with an expanding international presence, today announced that the Mexican Ministry of Health's Federal Committee for Protection from Sanitary Risks ("COFEPRIS") has granted its approval of the sanitary license for the oral liquids, topical liquids and tablet coatings operations at Genomma Lab's Medicinas y Medicamentos Nacionales, S.A. de C.V. ("MMN") manufacturing facility in the State of Mexico.

The Company's OTC plant Operating License phase has therefore concluded and all manufacturing lines are able to manufacture a wide range of pharmaceutical products, effective immediately.

Rodrigo Herrera, Genomma Lab's Chairman, commented: "The expanded operating license enables Genomma to now manufacture an extensive line of pharmaceutical dosage forms, representing a crucial milestone on our journey and further strengthening Genomma's position as the Pharma and Personal Care products leader in the Americas."

He continued, "The Plant has been meticulously designed to yield a maximum return on invested capital, fueling a trajectory of profitable and enduring expansion. We remain focused on these and other important initiatives to ensure ongoing efficiency gains and profitability."

Marco Sparvieri, Genomma's CEO, added, "At our 2023 Investor Day, we committed to leveraging our manufacturing facility to support Genomma's journey and deliver significant productivity savings by 2027. Genomma's Industrial Complex capabilities come into play here, driving optimal agility and swiftness across pivotal processes such as manufacturing, product innovation, and service operations."

He continued, "Further, it will curtail manufacturing expenses and ensure appropriately sized inventory levels, contributing to an enhanced cash conversion cycle in the medium term."

Next Phases:

Genomma's manufacturing facility was granted its operating license and Good Manufacturing Practices (GMP) certification in September 2021 for its solid and semi-solid pharmaceutical dosage forms. This GMP permits Genomma to sell manufactured products in the domestic market.

The Company will actively focus on the next phase of remaining regulatory permits for its oral liquids, topical liquids and tablet coatings: GMP certification for the Mexican market and, subsequently, international markets.

About Genomma Lab Internacional
Genomma Lab Internacional, S.A.B. de C.V. is one of the fastest growing pharmaceutical and personal care products companies in Latin America. Genomma Lab develops, sells and markets a broad range of Premium branded products, many of which are leaders in the categories in which they compete in terms of sales and market share. The Company has a sound business model through a unique combination of a new product development process, consumer oriented marketing, a broad retail distribution network and a low–cost, highly flexible supply chain operating model. For more information visit: www.genommalab.com

Genomma Lab's shares are listed on the Mexican Stock Exchange under the ticker "LABB" (Bloomberg: LABB:MM).

Note on Forward-Looking Statements
This report may contain certain forward-looking statements and information relating to the Company that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. Forward looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words like "believe," "anticipate," "expect," "envisages," "will likely result," or any other words or phrases of similar meaning. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this presentation and in oral statements made by authorized officers of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Risks and uncertainties include, but are not limited to: risks related to the impact of the COVID-19 global pandemic, such as the scope and duration of the outbreak, government actions and restrictive measures implemented in response, material delays, supply chain disruptions and other impacts to the business, or on the Company's ability to execute business continuity plans as a result of the COVID-19 pandemic, economic factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products attained by competitors; challenges inherent in new product development; the ability of the Company to successfully execute strategic plans; the impact of business combinations and divestitures; manufacturing difficulties or delays, internally or within the supply chain; significant adverse litigation or government action, including related to product liability claims; changes to applicable laws and regulations, including tax laws; changes in behavior and spending patterns of purchasers of products and services; financial instability of international economies and legal systems and sovereign risk. A further list and descriptions of these risks, uncertainties and other factors can be found within the Company's related filings with the Bolsa Mexicana de Valores. Any forward-looking statement made in this release speaks only as of the date of this release. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Genomma Lab Internacional, S.A.B. de C.V.