Upholding momentum: SCHOTT Pharma sustains strong growth in the first half of FY 2023
Thursday, June 22, 2023, Mainz, Germany
- Strong trajectory continuing into H1 of FY 2023, with sales of EUR 449 million representing 13.2% year-on-year growth, and EBITDA of EUR 132 million resulting in a margin of 29.4%
- Strategy focusing on high-value solutions is paying off as share of sales from these high-margin, high growth products increased significantly to 45%
- Strategic capacity expansion for high-value products well on track to meet surging demand for injectables
“In the first half of this fiscal year we have continued our proven trajectory with double-digit growth rates and increased profitability. Our long-term delivery contracts with leading pharma companies, extending partially until 2030 and beyond, provide high security and financial visibility. This sets a solid foundation for our future success,” said Dr. Almuth Steinkühler, CFO of SCHOTT Pharma. The company has made rapid progress in implementing the production expansion plan for its high-value product lines, ensuring its ability to meet growing market demand. Amongst others, SCHOTT Pharma has added a state-of-the-art production facility for prefillable polymer syringes in Southern Germany and is significantly expanding capacity for its ready-to-use vials in the United States. In addition, the company has also started construction of a new manufacturing hub for prefillable glass syringes in Hungary.
Staying ahead through innovationSCHOTT Pharma is further investing in R&D to continuously innovate and develop new products. The company further expanded its product portfolio within the high-value solutions segment in the past six months: The new SCHOTT TOPPAC® freeze prefillable polymer syringes are made for deep-cold drugs such as mRNA vaccines and therapeutics, that need to be stored and transported on dry ice at temperatures reaching -100°C. With this innovation, SCHOTT Pharma is the first on the market in this category and enables deep-cold medications to be marketed using prefillable polymer syringes.
The company also provides high-quality solutions for GLP-1 (glucagon-like peptide 1) drugs. These drugs effectively manage blood sugar levels and decrease appetite, making them valuable for treating both type-2 diabetes and obesity. SCHOTT Pharma has secured long-term contracts with all leading players in this market segment, supplying them with prefillable glass syringes and cartridges.
OutlookSCHOTT Pharma primarily operates within the addressable market for injectables, which represents a thriving subset within the pharmaceutical industry. The company expects growth of this market segment to outpace the overall performance of the pharma market in general. “By focusing on this specific market, we capitalize on the increasing demand for injectable products and are well positioned for continued success in a growing market,” concludes CEO Andreas Reisse.
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1The fiscal year 2023 runs from October 2022 to September 2023. The financial results in this press release are unaudited combined financials.
Head of Corporate Communications