Fagron realizes turnover growth of 10.7% CER.
Rafael Padilla, CEO of Fagron: 'As expected the third quarter was also to a large extent defined by the impact of the COVID-19 pandemic, which we were able to navigate well thanks to our product and regional diversification and our reliable supply chain.
Both in terms of turnover development and profitability, Fagron once again showed a good performance in the third quarter.
The course and effects of the pandemic vary from region to region. Demand for COVID-19-related products, mainly at the Brands and Essentials segments, is keeping pace with the development in the infection rate, which is rising again in a number of regions. Demand for elective care recovered in a number of regions, although it is being scaled back again in areas where the number of cases is on the rise.
We are able to respond to both of these developments well with our diversified product portfolio, as is evidenced by the performance in Latin America and North America. In the Netherlands, where we traditionally have a strong position in Compounding Services, the impact of scaling back elective care is more difficult to offset by the increase in demand for COVID-19-related products.
The European activities are being structured more efficiently to enable us to respond even quicker in the market. As part of this restructuring I am going to lead the EMEA region (Europe, South Africa and Israel) myself. The flatter organizational structure will lead to better collaboration in order to increase our strength and impact as a market leader and to realize synergies and economies of scale. Furthermore, we will focus more on innovation, the development of Brands and a shorter time-to-market.
Another important development remains consolidation and we are proud to have further strengthened our group in the third quarter of 2020 with the acquisition of Pharma Tamar in Israel. Fagron remains alert to possible acquisition opportunities that may arise in the current market dynamics.
The coming quarter will also be dominated by COVID-19 and visibility is limited. We will continue to pursue our policy aimed at making the most of opportunities while remaining critical of our costs.'
Contact:
Constantijn van Rietschoten
Tel: +31 6 53 69 15 85
Email: constantijn.van.rietschoten@fagron.com
Fagron profile
Fagron is a leading global company active in pharmaceutical compounding focused on delivering personalized medicine to hospitals, pharmacies, clinics and patients in 36 countries around the world.
The Belgian company Fagron NV is located in Nazareth and is listed on Euronext Brussels and Euronext Amsterdam under the ticker symbol 'FAGR'. Fagron's operational activities are managed by the Dutch company Fagron BV, whose head office is located in Rotterdam.
Important information regarding forward-looking statements
Certain statements in this press release could be considered to be forward looking. Such forward-looking statements are based on current expectations and are influenced by various risks and uncertainties. Consequently, Fagron cannot provide any guarantees that such forward-looking statements will, in fact, materialize and cannot accept any obligation to update or revise any forward-looking statement as a result of new information, future events or for any other reason. In the event of differences between the English translation and the Dutch original of this press release, the latter prevails.
FAGRON N.V. 
