(AOF) – Theradiag reported annual revenue for 2022 of 12.2 million euros, up 9.7%. The company specializing in in vitro diagnostics generated 55% of its turnover abroad, compared to 52% in 2021. The Theranostics activity once again posted solid growth over the year with an increase in turnover business by 0.1%, despite fewer instruments sold by Theradiag in 2022. This activity represents, as in 2021, 52% of the company’s sales. The share of this activity carried out abroad is increasing and reaches 68% in value compared to 65% in 2021.
The historic In Vitro Diagnostics (IVD) business also posted good momentum with sales up 9.2% to €5.8 million.
Its growth is particularly marked in exports (outside the United States).
This positive momentum comes as the Covid testing activity was stopped during 2021.
As of December 31, 2022, Theradiag’s cash amounted to 6.4 million euros compared to 7.1 million euros a year earlier and 6 million euros as of June 30, 2022. This level of cash is in line with the company’s roadmap and its progress in the second half of 2022 is explained by a higher than expected amount of research tax credit.
Bertrand de Castelnau, Chief Executive Officer of Theradiag, commented: “Theradiag is continuing its growth momentum in 2022, thus illustrating the recurrence of its business and the relevance of its positioning. Despite our strategic reorientation in the United States which is limiting growth in this country to the benefit of profitability, we achieved a satisfactory increase in our turnover, driven by our sales of reagents in the biotherapy monitoring market. We are approaching 2023 with confidence thanks to our leadership position in our market, in which many patients still need to be further supported in their therapy.”
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.