The biosimilar manufacturer Formycon recorded significantly lower sales in the first half of the year.
The company justified this on Wednesday with a decline in the milestone payments and refunds of development services. The company relies on a stronger second half of the year and confirmed the forecast for the year.
The turnover slipped to 9 million euros in the first six months, after 26.9 million euros a year earlier, as Formycon announced. The company continued to record losses: the minus in the result before interest, taxes and depreciation (EBITDA) increased by one million to 17.9 million euros.
Formycon assumes that the shops are dressed in the second half of the year. Then the sales from the success participation of the already approved Stelara Biosimilar Fyb202 should increase. The company therefore confirmed its forecast for the current year. The first licensing partnerships for the biosimilar fyb206 in development should also contribute to this. Formycon puts great hopes in the molecule, a imitator of the Keytruda of the US group Merck & Co.
“Both programs are excellently positioned in order to contribute significantly over the course of the year and especially in the fourth quarter to achieve our goals,” explained Enno Spillner.
A total of 2025 is based on revenue of 55 to 65 million euros. At EBITDA, the company expects a loss between 10 and 20 million euros. In addition, the company “ideally” confirmed in 2026, but at the latest in the 2027 financial year to achieve a positive operational result.
Formycon numbers Bitter pill for investors
The shares of Formycon reacted on Wednesday with clear losses to the half-annual figures of the pharmaceutical manufacturer. In the early trade, the papers temporarily dropped by more than 7 percent since the beginning of June. Now you are still trading 2.76 percent in the XETRA trade at EUR 24.65 and are weakest in the SDAX with an annual balance of minus 54 percent. The course continues its downward trend in the current year. The share has lost more than half of the value since the beginning of the year.
Analyst Alistair Campbell from the Canadian Bank RBC emphasized that the generic producer expects a much stronger second half of the year.
/NAS/STK
Planegg-Martinsried (dpa-Afx)
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