Hovione's Sales Grow 15%

Sales Reach USD 144 Million for the Fiscal Year Ended March 31st 2010

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Jul 28, 2010, 08:54 ET

LOURES, Portugal, July 28, 2010 /PRNewswire/ -- Hovione announced today that the consolidated sales for the fiscal year ended March 31st 2010 amounted to USD144m, representing an increase of 15% over the previous year.

During 2009 Hovione celebrated its 50th Anniversary at everyone of its facilities. The Company acquired an API manufacturing facility from Pfizer, in Cork, Ireland, as well as a state-of-the-art Aseptic Spray Drying (ASD) manufacturing line. Hovione also 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.

The plant in Cork doubled Hovione's quality production capacity and will enable to capture new market opportunities. "This is proof of our commitment to providing our customers with assured continuity of supply and the highest standards," said Guy Villax, Chief Executive Officer.

"Another year of continued strong performance by the Hovione group. During the last five years Hovione has increased sales by 77%, has gone from three to five industrial plants and has passed the 1000 Team Members mark. Looking forward, and despite the difficult economic environment, we remain confident that 2010 will be another year of solid growth," adds Miguel Calado, Chief Financial Officer."

About Hovione. Hovione is an international company with 51 years' experience in Active Pharmaceutical Ingredient development and compliant manufacture. With four FDA inspected sites in the US, China, Ireland and Portugal the company focuses on the most demanding customers, in the most regulated markets. The company also offers integrated API, particle design and formulation development and manufacturing. In the inhalation area, Hovione is the only independent company offering such a broad range of services.

For more information about Hovione, please visit the Hovione site at http://www.hovione.com or contact Corporate Communications, Isabel Pina, +351-21-982-9362, e-mail: [email protected]

SOURCE Hovione