SAINT-PREX, Switzerland - Tuesday, 09. April 2024
Ferring reported annual revenues of €2.2 billion, an increase of +1% at
constant exchange rates, supported by robust sales performance in core
franchise and legacy products
Launches of Rebyota® and
Adstiladrin® in United States provide major mid- to -long-term
opportunities for the company to diversify into new therapeutic areas
Significant changes to senior management, headed by new Chairman,
Jean-Frédéric Paulsen, ensure Ferring is well-placed to maximise these
opportunities
#ProjectFamily Safe Birth to reduce maternal deaths
wins recognition for Ferring in Fortune’s ‘Change the World’ list of
companies with the greatest social impact
(BUSINESS
WIRE)--Ferring today published its 2023 Annual Report showing the
company’s annual revenues were €2.2 billion, a decrease of -4% on the
previous year at actual exchange rates (AER), but an increase of +1% at
constant exchange rates (CER). EBITDA increased by +€43 million (+12% at
AER) to reach €406 million and operating profit for the year reached
€139 million.
The year marked a major turning-point for Ferring
with the launch of two innovative first-in-class medicines in the United
States. Rebyota® (fecal microbiota, live – jslm) is the first
microbiome-based live therapeutic ever approved by the US Food and Drug
Administration, while Adstiladrin® (nadofaragene firadenovec-vncg)
represents a new form of gene therapy with the potential to transform
the treatment of certain urological cancers. The commercial potential of
Adstiladrin was recognised by a US$500 million royalty financing
agreement with Royalty Pharma, a leading funder of innovation in the
biopharmaceutical sector.
Ferring is evolving to make the most of
these opportunities, and there were a number of significant changes to
the senior leadership. In July 2023, Jean-Frédéric Paulsen became
Chairman of the company founded by his grandfather Dr. Frederik Paulsen
and Eva Paulsen in 1950. Lars Rebien Sørensen, who has held the post of
Chairman since 2021, remains on the Board as Vice-Chairman, ensuring
continuity of leadership. Jeffrey Hobbs stood down as Vice Chairman and
Executive Director following several decades of outstanding contribution
to the Ferring Group. Hélène Ploix and Alexandra, Countess of
Frederiksborg, also stood down from the Board of Directors after many
years of invaluable service.
Two new members joined the Board of
Directors – Viviane Monges, who took over as Chair of the Audit and
Finance Committee, and Henrik Normann, member of the Board of Directors,
who was previously President and CEO of Nordic Investment Bank. In
April 2024, Per Falk stood down as President, a position he held since
2019. Ferring’s Executive Committee was strengthened by the appointment
in January 2023 of Pierre-Yves Berclaz as Chief Medical Officer, and in
January 2024 Cyril Grandchamp-Desraux as Chief Commercial Officer.
Jean-Frédéric
Paulsen, Chairman of the Board of Directors, said: “The launch of two
groundbreaking medicines in the US, along with the other important
changes in 2023, mark the start of an exciting new phase of growth for
Ferring. As we look forward to another year filled with enormous
potential, I am confident in the qualities of our senior executive team
and the thousands of colleagues worldwide whose dedication and expertise
will help to ensure that we succeed in our mission of building families
and helping people live better lives.”
Ferring has also
maintained its environmental, social and governance (ESG) progress and,
in 2023, embarked on a programme to embed sustainability into its
activities worldwide. In a major milestone, we marked the tenth
anniversary of #ProjectFamily Safe Birth, a public-private partnership
which aims to address postpartum haemorrhage (PPH), the leading cause of
maternal mortality worldwide.1 In 2023, we provided one million doses
of Carbetocin Ferring, our heat-stable medicine for the prevention of
PPH, at a not-for-profit, affordable price to public and not-for-profit
health facilities in low and lower-middle income countries. Ferring’s
contribution was recognised with inclusion in Fortune’s ‘Change the
World’ List of companies that have had the greatest impact in addressing
society’s unmet needs.
About Ferring Pharmaceuticals
Ferring
Pharmaceuticals is a privately owned, research-driven, specialty
biopharmaceutical group committed to building families and helping
people live better lives. We are leaders in reproductive medicine and
maternal health, and in areas of gastroenterology and urology. We are at
the forefront of innovation in microbiome-based therapeutics and
uro-oncology intravesical gene therapy. Ferring was founded in 1950 and
employs more than 7,000 people worldwide. The company is headquartered
in Saint-Prex, Switzerland, and has operating subsidiaries in more than
50 countries which markets its medicines in over 100 countries.
Learn more at www.ferring.com, or connect with us on LinkedIn, Instagram, YouTube, Facebook and X (Twitter).
______________________________
1
World Health Organization. A Roadmap to Combat Postpartum Haemorrhage
between 2023 and 2030. 2023. Available at
https://cdn.who.int/media/docs/default-source/reproductive-health/maternal-health/pph-roadmap.pdf?sfvrsn=db36b511_3
Accessed April 2024
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Contacts
Carine Julen
Manager, Corporate Communications & Public Affairs
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