The company closes its last financial year with a 38.9 million turnover, a 1% decline, following stocks-out in some products
Alicante pharmaceutical company ASAC Pharma closed the last financial year with a turnover of 38.9 million Euros, a 1.17% decline, following stock-outs on several of its products due to regulatory changes and the delay in certifying its new vaccine plant. This decrease also had a knock-on effect on profits, which stood at 1.5 million compared to 1.8 million the previous year, according to the consolidated accounts filed by the group with the Commercial Registry.
Nevertheless, these declines do not concern managers at the pharmaceutical company, who expect to maintain the turnover this year despite the effects of COVID, and hope to return to a path of growth from 2021, as stated yesterday by the firm’s CEO, Eliseo Aller. The company hopes that this growth will come specifically as a result of this new factory, which allows it to produce individualised allergy vaccines, one of the most advanced lines available in immunotherapy.
To open its new facilities, the company had to suspend production of the vaccines it had been manufacturing since 2017, in order to undertake the work. Although the company had kept a stockpile to be able to supply its clients throughout this time, administrative delays in certifying the new facilities caused the process to take longer than expected, leading to a stock-out last year, which particularly affected its business in Mexico, one of its major international markets.
However, it wasn’t the only one; the firm also experienced a similar problem with several of its suppliers due to the implementation of new regulations to prevent counterfeit medicines – requiring the serialisation of boxes so that they can be tracked anywhere in the world – which also affected its figures for last year, according to Aller.The executive considers these setbacks to be in the past and points out that, in addition to the expected increase in the respiratory line thanks to the vaccines, which he hopes will generate around eight million a year from 2022, the company is also committed to developing new markets abroad. Thus, although its efforts had been focused on South America up until this point, with Mexico and Brazil as major strongholds, the firm now sees its best opportunity in Asia, where it is already achieving a significant growth. Specifically, the firm already has a presence in China, Korea, Malaysia and Vietnam, and is also beginning to make its first ventures in Japan.
Also Europe and Asia
Another market where the pharmaceutical company wants to have an impact in the next few years is Scandinavia, for which it is seeking a partner to facilitate its establishment. It also plans to grow in North Africa from its facilities in Morocco. At present, up to 68% of the company’s turnover comes from abroad. Asac has three lines of action: one focusing on medication for musculoskeletal disorders, such as arthritis and osteoarthritis; another on dermatology, and a third on respiratory treatments, including vaccines.
