(AOF) – Eurobio Scientific announces for the 1st half of 2023 a turnover of 59.1 million euros on its core business. The group specializing in in vitro medical diagnostics and life sciences underlines that excluding the exceptional turnover linked to the Covid activity (40.6 million euros in the 1st half of 2022), the growth in turnover therefore amounts to 37% over one year. On a comparable pro forma basis, growth remains dynamic in the core business, at 7%. The share of proprietary products is increasing and reaches 30% of turnover (compared to 18% in 2022).
Total turnover for the first half amounted to 59.1 million euros against 83.6 million euros a year earlier at the same time.
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Biotechs put to the test
These companies are suffering from a much less favorable economic cycle, which is reflected in particular by a drop in financing by venture capital for start-ups. These companies are therefore obliged to carry out redundancy plans. Added to this is a much more restrictive regulatory framework. First, in the United States, the measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of the participants. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemicals) or 13 years (biologicals), with discounts that could range from 35 to 60% for biotechs. Similarly, in Europe, with the new drug regulations presented in Brussels in April, the duration of patent protection will be reduced if the innovative treatment is not marketed in all member countries within two years.