Hovione's sales grow 15% for FY to March 2010

Portuguese drugmaker Hovione announced yesterday that the consolidated sales for the fiscal year ended March 31, 2010, amounted to $144 million, representing an increase of 15% over the previous year.

During 2009 Hovione celebrated its 50th Anniversary at everyone of its facilities. The company acquired an active pharmaceutical ingredients (API) manufacturing facility from Pfizer, in Cork, Ireland, as well as a state-of-the-art aseptic spray drying manufacturing line. Hovione also expanded its production capacity of contrast agents at the Hisyn site in China, which it acquired in 2008. ASD capability is core to the firm's strategy and Hovione says it is committed to remaining the global industry leader in spray drying.

The plant in Cork doubled Hovione's quality production capacity and will enable to capture new market opportunities. "This is proof of our commitment to providing our customers with assured continuity of supply and the highest standards," said Guy Villax, chief executive of the family-owned business.