Boiron: Drops as drug reimbursement laws, fewer winter illnesses hurt sales

Boiron SA

23/04/2021 08:56

** Shares in French homeopathic meds maker Boiron  BOIR.PA  
slump 10% on much worse-than-expected Q1 results
    ** Boiron's Q1 revenue dropped 41.8% to 91.2 million euros 
($109.88 million), while FY sales are seen dropping
significantly (12%-15%) with oper result also expected to
decrease  urn:newsml:reuters.com:*:nFWN2MF193
    ** Mgmt said drop was mainly due to the end of homeopathic
drugs reimbursements in France, a decrease in winter illnesses,
and a "demanding" comparison base
    ** Societe Generale cuts Boiron  BOIR.PA  to "sell" from
"hold" on disappointing results, and "drastically" cuts its 2021
estimates    
    ** The brokerage now expects a 15% fall in sales and an
underlying oper margin of 6.5% vs previous respective estimates
of -10% and 12% 
    ** Stock is heading for its worst day since mid-July

    
    


($1 = 0.8300 euros)

 ((diana.mandiaalvarez@thomsonreuters.com))