The very significant increase in its revenue Lavipharm resulting from the acquisition of the drug Durogesic or any other future acquisitions is not included in the five-year business plan announced last year by the publicly traded company, which projected a doubling of sales within five years.
This was stated by Lavipharm’s management during yesterday’s presentation to the Institutional Investors Association, noting that while it cannot accurately predict the extent to which the addition of Durogesic (an April 9 report by Euro2day.gr referred to a “lottery deal” ) will boost the group’s revenue this year (depending on when the required approvals from regulatory authorities are finalized), he highlighted that among the catalysts that will influence 2026 performance are:
a) The trajectory of medical cannabis, whose sales jumped from €500,000 in 2024 to €8.7 million last year, with the prospect of more than doubling this year and growing even further from 2027 onward.
b) Expanding collaboration with i-Nova (in the area of antiseptic drugs), the launch of Rexia and other drugs, as well as further strengthening of exports (among other things, approval for the marketing of Catapresan in Germany is expected).
Laviрharm’s Deputy CEO Panagiotis Giannouleas ( photo) noted that over the past five years, Laviрharm has significantly expanded its market share in Greece, rising from 0.5% five years ago to 1.6% at the end of 2025 and stood at 1.30% this past February. This is the company that has recorded the second-highest growth rate in the Greek market.
Referring to the deal to acquire Durogesic, Laviрharm’s CFOVasilis Baloumis argued that if this specific drug had been added in 2025 (on a 12-month basis) to Laviрharm, then the listed company’s sales would have increased by €37 million, with the EBITDA margin for these sales initially standing at 22% and, in a second phase (when production moves to the Paiania facilities) at 37%.
It should be noted that this additional revenue relates exclusively to exports, which are accompanied by higher profit margins as they are not subject to clawbacks or rebates.
“This product is more than just a game-changer,” and such a deal could change the company’s future forever. “This deal gives us a dominant role in a market with high barriers to entry. We are also significantly boosting production at our facility in Paiania, while further reducing the overall average production cost of our transdermal products,” he noted.
New deals
Laviрharm’s management makes no secret of its intention to proceed with new drug acquisitions. “Our recent moves strengthen our international presence and confirm the company’s ability to execute complex agreements and capitalize on new opportunities in global markets.
With consistency and perseverance, we continue to implement our strategy, with the goal of creating value,” noted Vasilis Baloumis, while Panagiotis Giannouleas, for his part, argued that the Durogesic deal “will help us see even bigger opportunities. “We are looking to pursue smart deals, and our search in this area is ongoing.”
Finally, in response to relevant questions from analysts, the management of the listed company noted, among other things:
- Institutional investors(Greek and foreign) hold approximately 15% of the company, and the percentage of retail investors is roughly the same. There are plans this year as well for presentations to foreign institutional investors (the increase in market capitalization makes the stock more visible in foreign portfolios).
- Even after the domestic production of Durogesic begins, there will remain spare production capacity of approximately 40 million patches at the Paiania facility for Laviрharm to utilize in the future.
- The divestment program for non-core activities has been completed.
- There are no plans to sell the company, as the majority shareholder believes there is significant room for future growth.