At the annual analyst briefing held at the Athens Stock Exchange, Lavipharm’s CFO, Vasilis Baloumis, shared the company’s financial performance, highlighting impressive growth in a challenging macroeconomic climate.
In 2024, consolidated sales from continuing operations, excluding Rebate & Clawback, reached 61.01 million euros, up from 54.34 million euros in 2023, marking a 12.3% increase.
Baloumis discussed the successful completion of the company’s reorganization strategy, which involved ceasing certain activities—such as the pharmaceutical warehouse operations, selling off the pharmacy network, and liquidating key subsidiaries—to streamline the Group’s structure and lower operating costs. A critical component of this restructuring is the implementation of a new organizational chart designed to boost efficiency and optimize resource management.
Moving forward, the company will concentrate solely on the development, production, and sale of pharmaceutical products. “Our primary goal now is to enhance our production capacity,” he stated.
Lavipharm has successfully completed a new transdermal system production line at its Paiania facility, more than doubling its production capacity. Additionally, the company has entered into a strategic partnership with INOVA to secure commercialization rights for an over-the-counter (OTC) pharmaceutical product across 60 countries.
Baloumis also highlighted Lavipharm’s ongoing commitment to identifying acquisition opportunities for pharmaceutical products beyond Greece, noting the company’s capability to swiftly finalize complex agreements for acquiring pharmaceutical rights.
