Hovione's FY sales jump 11% to $103.7M

Sales for Portugal's Hovione in the fiscal year ended March 31, 2008, amounted to $103.7 million, an 11% rise over the previous year, and the first time annual turnover rose above the $100.0 million level.

The active pharmaceutical ingredients development and manufacturing firm based in Loures noted that the increase reflects the drug approvals by its customers both in the innovative and generic segment. Hovione's offering also includes the fast-growing particle design and inhalation formulation services. All four businesses have a growth outlook and present synergies between them. In 2007, Hovione invested significantly in particle design technologies, new production lines and facility upgrades.