Press release in prestigious Animal Pharm journal
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Vaccine revenues propel Czech firm Bioveta to strong annual growth
By Malcolm Flanagan
Published: 07 April 2016 10:06 AM
Czech Republic animal health firm Bioveta recorded a healthy 25% sales growth in 2015.Full-year sales for the company reached €50.7 million ($57.7 million). Between 2010 and 2015, Bioveta has achieved an average annual revenue growth rate of around 19%.
The growth was largely driven by sales of Bioveta products within Europe and Asia. The firm's most succesful products have been: the Biocan and Biocan M Plus vaccines for Microsporum canis and distemper in dogs; APP ( Actinobacillus pleuropneumoniae serovar) vaccines for pleuropneumonia in pigs (BioSuis and Hyobac); and BioBos vaccines for respiratory infections in cattle.
Bioveta's research and development services for third parties attracted increased revenue and has become an important part of the company's services.
In order cope with the increasing demand for its products and services, Bioveta is going to invest €15m ($17m) in new manufacturing and research premises within its facility situated at its Ivanovice na Hané headquarters. Construction will begin in June.
The new premises should enable Bioveta to increase its production capacities for vaccines, as well as to extend space to accommodate more research projects focused on vaccines for third parties. Another investment into capacity expansion is planned for 2017.
"We predict an 11% organic growth for 2016 that should result in €56.3m sales. The growth is expected especially in sales of Bioveta vaccines portfolio within Europe. For future growth, the company plans to enter the US market, where it has already introduced one of its Biocan canine vaccines," said Bioveta.
Bioveta has a portfolio of around 150 products for the diagnosis, prevention and treatment of disease in farm and companion animals, particularly veterinary vaccines, hormones and pharmaceuticals. It exports to more than 70 countries around the world. This includes active collaborations with overseas companies that are market leaders in veterinary products.