(AOF) – Theradiag posted turnover of 9.9 million euros as of September 30, 2023, up 11% year-on-year. The company specializing in the in vitro diagnosis of autoimmune diseases and Theranostic achieved a turnover of 3.2 million euros in the third quarter of 2023 compared to 2.6 million euros in the third quarter of 2022, i.e. growth of +20%, mainly supported by the In Vitro Diagnostic (IVD) activity which grew by +44%. The cash level at the end of September 2023 remains under control and reached more than 5.5 million euros.
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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 venture capital financing of start-ups. These companies are therefore obliged to carry out layoff plans. Added to this is a much more restrictive regulatory framework. First, in the United States, measures linked to the Inflation Reduction Act (IRA) could have a strong impact on the margins of stakeholders. Indeed, from 2026, the federal Medicare program will be able to renegotiate the price of drugs marketed for nine years (chemical) or 13 years (biological), with discounts that could range from 35 to 60% for biotechs. Likewise, 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.