The Spanish Pharmaceutical Sector Closes Q3 with an Increase of 10.7%

The Spanish pharmaceutical sector continues to recover from horrible quarters on the stock market. Spanish pharmaceutical companies listed on the continuous market close September in the green, contrary to what the Ibex 35 has done during the period. The aggregate capitalization of Grifols, Almirall, Rovi, Faes Farma, Pharma Mar, and Reig Jofre has increased by 10.7% between July and September.

The evolution of the sector in the third quarter of the year contrasts with that of the Ibex35 group of companies, a reference selective in the Spanish market, which during the third quarter of 2023 has registered a fall of 1.7%.

Grifols, Rovi, and Faes Farma continue their good momentum, Almirall and Pharma Mar recovered after the drop in the second quarter; while Reig Jofre is the only listed company that fell, with a decrease of 6.1%.

Grifols improved on the trading floor by 4.7%, with 12.3 euros per share. The company specializes in the production of blood products has continued to improve its stock performance after closing the first six months of 2023 with losses of 56.2 million euros, compared to 143.6 million euros in the first half of last year.

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Almirall is the company in the Spanish pharmaceutical sector with the greatest increase in the period

Almirall is the Spanish pharmaceutical company with the greatest increase in the period, with a price increase of 27%. After the shares of the Catalan pharmaceutical company recorded a fall of 11.9% in the second half, to 7.5 euros per share, the company regained traction in the third quarter and raised its price to 9.62 euros per share. qualification.

For its part, Rovi also remains green. Moderna’s ally in Europe closes the third quarter with an increase of 21.3%, with 51.35 euros per share. The Spanish pharmaceutical company decreased its profit by 17% in the first half of 2023, reaching 66.6 million euros, compared to 80.6 million euros in the same period last year.

Reig Jofre is the only one that does not follow the upward trend of the Spanish pharmaceutical sector and closes the third quarter with a decrease of 6.13% on the stock market, with 2.45 euros per share. This stock market evolution contrasts with the results of the company led by Ignasi Biosca in the first half, in which its profit increased by 57% compared to last year, registering 5.7 million euros, compared to 3.6 million euros in the previous year. same period of 2022.

Finally, Pharma Mar has corrected the 31% price drop in the second quarter, which placed the share at 30.4 euros, and has advanced 5.45% in the third quarter, up to 32.12 euros. Faes Farma has remained practically flat during the period, with a timid advance of 0.6%, remaining around 3.20 euros per share. 

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(Featured image by TBIT via Pixabay)

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

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