Photo credit © Euroapi
(Boursier.com) — Euroapi rises 5% to 2.65 euros this Wednesday. Remember that the title of the manufacturer of active pharmaceutical ingredients corrected its situation recently after the company suspended its 2024 outlook following the cessation of production of all APIs at the Brindisi site… “Continued of an internal audit, quality control failures attributable to potential shortcomings at the local level have been identified and are the subject of an in-depth investigation. Production will remain suspended until further notice,” said the spun-off company. Sanofi.
The Brindisi site produces 11 APIs and intermediates, mainly anti-infectives, including spiramycin, rifaximin, rifampin, and teicoplanin.
A revision of the 2024 outlook will be made public during the 2nd quarter of 2024, during the planned communication on the implementation and financing of the FOCUS-27 project, announced on February 28…
Among the latest broker opinions, JP Morgan is ‘neutral’ on Euroapi with a target adjusted from 4.20 to 3.50 euros. Oddo BHF explained for its part that Euroapi presents negative outlooks “again and again”, while the forecasts for 2024 which “were already weak are now suspended”. The broker noted, however, that the financial impact could be limited due to the size of Brindisi, while management has already announced that it will sell the factory in question. The FOCUS-27 project will already have a material impact due to transformation and restructuring costs, which may now be accentuated by an upgrade of this factory. The stock has lost 55% since the start of the year…
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