Rovi says schizophrenia drug will not be launched in US, shares drop
07/11/2024 09:07
Nov 7 - ** Shares of Spanish pharmaceutical company
Rovi ROVI.MC slump almost 11% on 2025 revenue forecast and its
announcement that schizophrenia treatment, Risvan, will not be
marketed in U.S. due to launch uncertainties
** Rovi expects a mid-single-digit percentage decrease in
its operating revenue for both 2024 and 2025, compared to their
respective previous years
** Sabadell's analyst highlights the news on Risvan
treatment and points out that 2025 guidance is below
expectations
** It also notes the company has lowered its peak sales
forecast to 100-200 million euros, down from its previous
estimate of 200-300 million euros
** Stock, on track for its worst day since November 2022, is
the top loser on Spain's blue-chip index Ibex 35 .IBEX , which
is up 0.3%
** Up to last close, shares were up 25.7% YTD
** Session's losses, however, wiped off over 400 million
euros from company's market cap
(Reporting by Marta Serafinko)
((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))