Noucor, the former industrial division of the pharmaceutical company Uriach, has exceeded the 100 million euro mark in sales in 2022, its first year as an independent company. The engine of the business was rupatadine, an antihistamine that is distributed in more than seventy countries. In this sense, the company has reached a new level of medicine in China and is already showing new prospects.
The company, located in Palau-solità i Plegamans (Vallès Occidental), sales have increased by 25% in 2022. “We have grown above the budget”, says the company’s CEO, David Perdigó, who explains that Noucor is the beneficiary of the change. in the strategy of many companies in the country towards major stocks after breaks in the supply chain due to the pandemic. “We also have a robust boost in getting Uriach as a customer,” he adds.
By 2023, Noucor predicts a growth of 15%, up to 115 million. These forecasts are focused on organic growth. “We will consider making a purchase later on both the license and the industry, but it fits with our plan,” he said.
The laboratory’s main business focuses on the production of new drugs, with 45% of the revenue. “We don’t do our own R&D, but we do work with licenses to engage in incremental innovation,” says Perdigó. This area is particularly specialized in women’s respiratory, health and dermatology.
Entry into China
The main product of this division is rupatadine, which contributes between 80% and 90% of revenues. “We recently entered China, a large market that has become a population of our size.” The firm hopes to reach a 20% market share there by 2026, which is now in the hands of generics.
In this exercise, Saudi Arabia and the United Arab Emirates were also exposed. Looking to the future, Noucor plans to take drug registration in the US next year. Also considering entering Australia and New Zealand later.
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Noucor also has a general division that generates 22% of revenues. The pharmacy does not work with large volumes, but seeks markets where it can stand out. Finally, the manufacturing business accounts for three quarters of 33% of turnover.
The industrial group invested 800 million in facilities last year. The main beneficiary was the fine economy plant in Sant Fost de Campsentelles (Vallès Oriental). The company, which has 460 employees, also has another factory in Palau, specializing in pharmaceutical products and food supplements. As for R&D, the funds amount to seven million.
The MCH fund controls 70% of the capital. Other family offices were distributed as Costafreda (former owners of Panrico), or Sabaté (Eurofragance) and other investors, such as the GVC Gaesco fund.