Genomma Lab Reports Consolidated Earnings Results for the First Quarter 2016
May 02, 2016 at 08:57 am EDT
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Genomma Lab reported consolidated earnings results for the first quarter 2016. For the quarter, the company reported net profits of MXN 359 million, representing year-on-year growth of 159.9%. EBITDA increased by 12.4%, to MXN 495 million. Overall consolidated revenues increased by 3%, reaching MXN 2.85 billion, with sales in the United States rising by 53.7% to MXN 476.20 million. This positive performance is attributable to strong sales in both Mexico and the United States, driven by new commercial and marketing efforts. After a poor year in 2015, the company's's recovery has been fuelled by its strong performance in international markets and the sale of 50% of its Grupo Marzam (Mexico) in a MXN 1.4 billion (USD 88.1 million) deal that boosted the company's finances.
Genomma Lab Internacional SAB de CV is a Mexico-based over-the-counter pharmaceutical (OTC pharmaceutical), generic drugs (GD) and personal care products company. The Company is engaged in the development, distribution and marketing of a range of products within different brands, for such treatments as anti-acne, varicose vein, hair loss, sexual stimulation and influenza; as well as analgesics and antifungals. The Companyâs product portfolio includes such brands as Asepxia, Cicatricure, Goicoechea, Bengue, Diabet TX, Genoprazol, Goicotabs, Shot B, SilkaMedic, Siluet 40, Nikzon, X Ray, Next, Touch Me, Lomecan V and QG5, among others. The Company is a parent of a number of controlled entities, which have operations established in Mexico, the United States, Peru, Chile, Ecuador and Honduras, among others. In June 2014, the Company acquired 50% stake in Grupo Comercial e Industrial Marzam SA de CV.
GENOMMA LAB INTERNACIONAL, S.A.B. DE C.V. 
