Guerbet sees 7% growth in Q1 revenue

Citing momentum from its acquisition of Mallinckrodt's contrast media business in 2015, French contrast developer Guerbet reported 7% growth in revenues for the company's first quarter (end-31 March).

For the period, Guerbet reported revenues of 203.1 million euros ($221.4 million), up 10.6% at constant exchange rates compared with revenues of 183.7 million euros ($200.2 million) in the first quarter of 2016. After adjusting for currency fluctuations, the company's revenues were up 7.4%.

Guerbet reported that sales were up 1.1% in Europe and 20.3% in other markets after currency adjustments. The vendor attributed the growth outside Europe to sales in Asia, which has been an area of emphasis for the company, as well as in the U.S. and Latin America, particularly Brazil.

Among its four product segments, Guerbet reported the following:

  • MRI sales of 65.6 million euros ($71.5 million), up 10.4% at constant exchange rates thanks to steady sales of its Dotarem contrast agent in the U.S.
  • X-ray sales of 94.5 million euros ($103 million), up 4.2% on "excellent" performance of its Optijet product
  • Interventional radiology and theranostic (IRT) sales of 12.1 million euros ($13.2 million), up 0.9%
  • Sales in its Imaging Solutions and Services segment, which includes contrast injectors, of 20.0 million euros ($21.8 million), up 27.5%

The numbers represent a return to growth that reversed declining sales that Guerbet had experienced prior to the Mallinckrodt acquisition. The strong first-quarter performance in all four of its product lines reflects the success of the turnaround, and Guerbet confirmed its forecast for full-year growth.

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