Bioveta financials boosted by international vaccine sales
The firm's revenues for the period reached CZK1.372 billion ($58.6 million). The main drivers for this growth were sales of the firm's vaccines for pets and food animals in Eastern Europe, the Middle East and Latin America.
Bioveta said it is continuing its strategy to accelerate its revenues through the sale of its own products and via private label or shared label co-operations.
The company's product portfolio focuses on vaccines. This year, Bioveta has introduced two new swine vaccines in Europe. BioSuis ParvoEry provides protection against parvovirosis and erysipelas, while BioSuis Salm is an inactivated vaccine for zoonotic serotypes of Salmonella.
Ivanovice na Hané-headquartered Bioveta said there are more swine vaccines in its pipeline that are expected to enlarge its portfolio in the period 2020-2022.
The firm is also working on products for cattle, poultry and companion animals. The company said it has over 40 projects currently in R&D, "bringing either a new product or innovation of an already-existing product into Bioveta's portfolio in the short-to-medium-term".
In fiscal 2018 - the year of the firm's 100th anniversary - Bioveta posted an 11% year-on-year improvement in revenues. Growth in recent years stems from the ongoing internationalization of the company's vaccine portfolio.
Bioveta exports its products to more than 90 countries around the world. The firm's main markets are the Czech Republic, Poland, Denmark, Germany, Ukraine, Japan, Russia and Romania.
Read more at Animal Pharm's article.