Faes Farma : Q2 results a touch ahead but FY 2024 guidance maintained
>Sales lose momentum in Iberia and Animal health but the Exports save the quarter - Total Q2 revenues reached € 134m (+9% y-o-y vs 7% sales growth registered in Q1), a touch ahead of our estimate. By division, sales of traditional products in Spain posted some sequential deterioration (4% y-o-y in Q2 2024 vs 14% in Q1), reflecting a softening of momentum in Bilastine (-2% in Q2 vs +5% in Q1) and flattish Mesalazine which were partially offset by a good evolution of Ca...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.
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