Faes Farma : Q1 EBITDA in line. FY 2024 guidance reiterated
>Momentum mirage before the SG&A and R&D hump expected from Q2 onwards - Total Q1 2024 revenues reached € 139m (+7% y-o-y vs 4% sales growth registered in Q4), a touch ahead of our estimate. By division, sales of traditional products in Spain posted some sequential improvement (14% y-o-y in Q1 2024 vs 4% in Q4), reflecting improving momentum in Bilastine (ophthalmic and ODT versions recently launched partially offsetting the generic competition in the regular version)...Faes Farma is engaged in the health care research, manufacture and sale of prescription pharmaceuticals, over-the-counter pharmaceuticals and fine chemicals, URGO bandages and dressings and LAZLO cosmetics.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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