Euroapi rises on Frankfurt site capacity increase plan

Euroapi SA

01/11/2022 08:46

** Shares in Euroapi  EAPI.PA  rise over 5% after the drug
ingredients maker said it would increase its large molecules
capacity on its Frankfurt site
    ** The company plans to initially invest 18 million euros to
add around 500-kilogram per year peptide and oligonucleotide
capacity by 2025
    ** The five-fold increase with limited capital expenditure
should increase conviction over the group's growth prospects and
ability to ability to deliver their 6-7% top-line mid-term
target, J.P.Morgan says
    ** The expansion also shows robust underlying demand for
peptide and oligonucleotide drugs across industry, Credit Suisse
adds
    ** The stock is on track for its best day in three months
and outperforms the SBF120 index  .SBF120 , which rises 1.7%
 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))