(AOF) – Genoway announces that it has more than doubled its net profit in 2023 to 1.56 million euros (+102% over one year). This company specializing in the design of predictive preclinical solutions to enable its clients to select their most effective and safest drug candidate shows revenue growth of 18% to 20.04 million euros, and an Ebitda which jumped 54% to 2.06 million. Genoway forecasts that its 2024 financial year should be part of a growth dynamic similar to 2023, “still driven by the development of the Catalog model offering”.
“The 2023 results once again demonstrate the success of our first 2019-2024 strategic plan focused on the development of a catalog of preclinical research models intended for the immuno-oncology market,” declares Managing Director Alexandre Fraichard. “This plan will have enabled the company to double in size, going from 9.5 million euros in turnover in 2019 to 20.0 million euros in 2023, with exclusively organic growth of 20% in average per year over the last four years.
He underlines that this plan “was also accompanied by a strong improvement in our profitability with an EBITDA margin which increased from 6% in 2019 to 23% in 2023”
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.