LOS ANGELES
,
March 6, 2024
(Industry Intelligence Inc.)
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Aptar Group President and CEO Stephan Tanda and EVP and CFO Bob Kuhn outlined Aptar’s Q4 2023 performance during its earnings call held on February 9, 2024. Sales Highlights Innovations/Product Launches Stephan Tanda led off the call, stating, “In quarter four, robust demand continued for proprietary pharma drug delivery systems, which grew across several key applications such as emergency medicines, allergic rhinitis, central nervous system therapeutics, and nasal decongestions.” “As a reminder, our Pharma business is a pipeline-driven business. its projects taking anywhere from 5 to 15 years to be ready for commercialization,” he added. “In 2023, we had the highest number of new product launches since 2018, while adding an equal, risk-adjusted value of new project opportunities to the pipeline, which bodes well for continued solid growth.” Aptar’s Digital Health unit also had a productive 2023 reports Tanda. Highlights include: In Asia, Tanda reported, Aptar signed a joint venture agreement with a China-based pump manufacturer that gives Aptar a 40% stake in the company. “Through this partnership, Aptar will have access to cost-effective pump manufacturing in the region, faster go-to-market agility, and a more complete end-to-end local supply chain, all of which will further increase our profitability in China and the Asian market more broadly,’ he stated. “We expect to explore leveraging this partnership also for certain regional consumer healthcare dispensing systems. Additionally, we will have access to competitive mold and machine building capabilities that can be used globally and will provide us with high quality, better cost, capital investment alternatives.” CFO Bob Kuhn noted that dosing and dispensing technologies for emergency medicines, allergic rhinitis, and central nervous system therapeutics drove prescription core sales while elastomeric component demand continued to grow. Kuhn reported that core sales in active material science solution decreased 15% YoY in Q4. “Excluding non-recurring sales of COVID-19 at home test kits in the fourth quarter of 2022, core sales decreased 7%,” he added.
• Sales in Pharma segment grew 11% YoY. Increased volumes accounted for about 9% of growth.
• Proprietary drug delivery systems prescription core sales up 24% YOY.
• Consumer healthcare core sales up 13% YoY
• Aptar unidose nasal delivery system is being used in a recently launched opioid overdose rescue treatment.
• Elastomeric components from Aptar are featured on an existing GLP-1 molecule recently launched for a new indication.
• Aptar Digital Health expanded its partnership with Chiesi to conduct clinical studies in the U.S. for asthma and COPD.
• The group also signed an enterprise agreement with Biogen to operate and develop their digital health solutions.
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