Rovi’s Spanish first-half profit up 58%, helped by vaccine manufacturing

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The logo of Spanish pharmaceutical company Rovi, in charge of the final ‘fill and finish’ stage of manufacturing Moderna’s COVID-19 vaccine, is seen outside their laboratory in San Sebastian de los Reyes, Spain, November 17, 2020. REUTERS/Marco Trujillo/File Photo

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MADRID, July 27 (Reuters) – Rovi (ROVI.MC) on Wednesday posted a 58% rise in first-half net profit to 80.6 million euros ($82 million) as COVID vaccines -19 boosted its revenue, the Spanish pharmaceutical company said.

Rovi, which has a partnership with Moderna (MRNA.O) to manufacture its COVID-19 vaccine for large parts of the world, reported a 31% increase in operating revenue to 380.4 million euros.

Its manufacturing sales to third parties increased by 76% to 166.4 million euros, mainly due to revenues related to the production of COVID-19 vaccines.

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It expects its third-party manufacturing business to grow 30-40% in 2022, including vaccine production.

Shares of Rovi rose 1.8% after earnings, outperforming Spain’s blue-chip Ibex-35 index (.IBEX) which rose 0.32%.

($1 = 0.9865 euros)

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Reporting by Emma Pinedo, editing by Joan Faus and Jason Neely

Our standards: The Thomson Reuters Trust Principles.


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