Rovi rises after Q1 beat, new grant announcement

Laboratorios Farmaceuticos Rovi

08/05/2025 10:29

** Shares in Rovi ROVI.MC rise around 6% after the pharma company posted Q1 results slightly above market expectations and announced a new R&D grant

** The pharma firm booked Q1 EBITDA of 30.3 mln euros vs consensus of 27 mln euros, as cited by Banco Sabadell

** The broker attributes the beat to the good sales performance of heparin division, due to a backlog concentration in Q1 that should normalize over the rest of the year

** The company also said it will receive 36.3 mln euros grant for research into prolonged-release investigational drugs and new aseptic filling technologies

** "Positive news for ROVI, which faces the most investment-intensive phases of the clinical development of Letrozole," Renta4 analysts say

** The broker says the grant will cover about 40% of the company's R&D investment needs over the next two fiscal years

** The stock is at the top of the Spanish blue-chip IBEX35 index .IBEX, which falls 0.2%

 (Reporting by Mireia Merino)

 ((Mireia.Merino@thomsonreuters.com; Reuters Messaging: mireia.merino.thomsonreuters.com@reuters.net))