Abacus Medicine Group upgrades full-year outlook for 2023.

We now expect full-year revenue to come in above the initial guidance and we raise the guidance range with approximately 5% to EUR 1,140-1,190 million versus the initial guidance of EUR 1,090-1,140 million. This corresponds to 11-16% organic revenue growth in 2023.

The EBITDA margin for the Abacus Medicine Group is now expected to come in at 3.2-3.6% for the full year versus the initial expectation of 2.2-2.6%.

CEO Flemming Wagner says: “We are raising our financial target on the back of strong commercial execution in all parts of the businesses and faster than expected internal efficiency improvements. We also see growing demand in a number of our core markets as healthcare payers seek savings from imported medicine.”

• Revenue for Abacus Medicine and Pharma Services is expected to increase to EUR 800-820 million.
• Revenue for Pluripharm is expected to remain unchanged compared to the initial guidance at EUR 340-370 million.
• The EBITDA margin for Abacus Medicine and Pharma Services is projected to increase to 4.0-4.4% .
• The EBITDA margin for Pluripharm is projected to increase to 1.3-1.8%.
  

• Strong commercial execution in all parts of the business.
• Earlier materialization of efficiencies from investments in operational and digital setup.
• Growing demand in core markets.
• The Abacus Medicine Group will continue a high investment level.
• Full integration of the Pluripharm Group will move forward. We will explore more synergies between all business units as we move towards One Company.