Rovi's shares drop after completion of unit's review

Laboratorios Farmaceuticos Rovi

24/10/2024 09:11

Oct 24 -    ** Shares in pharmaceutical company Rovi
 ROVI.MC  fall 5% after completing a strategic review of its
unit 
    ** In late June, co received non-binding offers for its
third-party contract development and manufacturing business
(CDMO)
    ** However, co decides to keep CDMO business under current
group's structure "with no entry of third party investors"
    ** Sabadell says partial sale of CDMO unit was one of the
main catalysts it saw for the stock in short term
    ** But, the brokerage expects expansion of this business in
the coming years
    ** ROVI at bottom of the Spanish blue-chip index  .IBEX ,
which rises 0.3%
    ** Shares on track for their worst day since Sept. 10, when
it closed 7.1 % lower
    

 (Reporting by Joanna Jonczyk-Gwizdala)
 ((joanna.jonczyk@tr.com))