Hovione reported today recent capacity expansion and future plans in its sites in Portugal, Ireland and New Jersey.
Loures, Portugal, July 31st, 2009 - Hovione announced today that the consolidated sales for the fiscal year ended March 31st 2009 amounted to USD125.5m, representing a growth of 21% over the previous year.
In 2008 Hovione invested significant amounts in particle design technologies and in new production lines, both at Hisyn, China and at Hovione Portugal. Also during the year Hovione negotiated the acquisition of a Pfizer manufacturing facility in Ireland. This facility, located in Cork, Ireland has a world-class production capacity of 427m3 and a state-of-the-art spray drying building.
This acquisition is of strategic importance to Hovione. It will provide the Company with the necessary additional capacity to support the growing production requirements from our clients. In addition this plant will enable Hovione to capture the opportunities resulting from the outsourcing trend in Large Pharma, said Miguel Calado, Chief Financial Officer.
“Another year of strong performance by the Hovione group, despite a very challenging economic environment. With the recent acquisitions, in China and Ireland, we have significantly strengthened the growth potential of our Company. We are in the right places, with the right capabilities supported by great Team Members.” adds Miguel Calado.
2009 will mark Hovione’s 50th anniversary. During this year we shall take the time to do two things: to look back with pride on what we have built and to take a hard look at what were the success factors of these 50 years of satisfied customers.
Hovione is an international company with 50 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.