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Faes Farma Plans to Grow by Double Digits in Latin America

Faes Farma forecasts a double-digit growth in Latin America and plans to expand its medical visit, animal nutrition, and health businesses. The Spanish pharmaceutical company aims to reinforce research and development with a new industrial plant in Derio, Basque Country. Faes Farma expects revenue to grow between 6% and 8%, and EBITDA between 3% and 5% in 2024.



Faes Farma

Faes Farma explains its future plans after eleven consecutive years of growing turnover. The Spanish pharmaceutical company predicts a double-digit increase in Latin America and the expansion of its medical visit and animal nutrition and health businesses. It also anticipates a reinforcement of its commitment to research, development and innovation (R&D&I) with the opening of a new industrial plant in Derio, Basque Country, and closing in 2024, growing between 6% and 8%. in revenue and between 3% and 5% in its gross operating result (ebitda).

The pharmaceutical group celebrated its Capital Markets Day, in which it assessed the milestones achieved last year and the strategic lines for the future. In this context, Faes Farma has detailed that the Derio plant will begin operating at the end of 2024, once the mandatory inspections are carried out and permits are issued from the regulators involved. Once the licenses are granted, the company will move the production lines to the new factory, concluding this process in 2026 .

With this new investment, Faes Farma intends to strengthen its third-party manufacturing business until it doubles its production capacities compared to its other factory in Leioa.

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Faes Farma
Faes Farma expects revenue to grow between 6% and 8%, and EBITDA between 3% and 5% in 2024. Source

Faes Farma will invest 23 million euros in a factory focused on animal food and health

The Spanish pharmaceutical company also plans to open a new plant focused on the nutrition and animal health business in Huesca, intended to produce feed for the pig sector. This new manufacturing center has an investment of 23 million euros and is expected to produce around 120,000 tons of food per year .

With this there will be eight company plants around the world: four dedicated to the pharmaceutical sector, in Derio, Leioa, Portugal and Guatemala, and four more to the production of food and drugs for animals, two in Huesca, one in Tarragona and another in Lanziego.

Faes Farma is also committed to R&D&I developing solutions in the areas of allergies, gastrointestinal, bone immunomodulation and pain, which have a potential market of around 23 billion euros. To this end, the pharmaceutical company has six ongoing projects for which it will begin clinical trials in 2025 plus 21 active projects after several launches in 2023.


(Featured image by Marek Studzinski via Unsplash)

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First published in PlantaDoce. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.