The Octapharma Group – one of the largest human protein manufacturers in the world – has reported revenues of €2.51 billion in 2021, representing growth of 4.9% over the previous year. Net income is up 16.7% on 2020 at €438 million.
All Octapharma’s products performed well in 2021, with highlights including strong growth of the Group’s Immunoglobulin product portfolio, as well as in sales of Albumin and fibryga®. Commenting on the Group’s results, Octapharma CEO and Chairman Wolfgang Marguerre said: “Our work has never felt more relevant than over the past two years. It has been extremely gratifying to see how everyone at Octapharma has gone the extra mile during the pandemic, to be there for the people who truly need us.
Among our achievements in 2021, we received important regulatory approvals. The US Food and Drug Administration (FDA) approved the use of octagam® 10% for the treatment of adult dermatomyositis. The decision was quickly followed by other jurisdictions, providing a safe, proven treatment option for patients with this rare autoimmune disorder. The FDA also approved our manufacturing site in Springe as an additional site for Fraction II production. This is a very important step as it is the first FDA approval for our Springe site.
We also made good progress with several clinical trials in 2021, including our PRO-SID (Primary Infection Prophylaxis with panzyga® in Secondary Immunodeficiency in Chronic Lymphocytic Leukaemia (CLL)) study to evaluate the efficacy and safety of immunoglobulin (IVIg) for primary prophylaxis for infection control in patients with CLL. Additionally, we commenced a clinical trial with a new 20% subcutaneous IVIg, and enrolled our first patients in a phase III, multi-centre superiority study to compare the effectiveness of panzyga® versus placebo in patients with paediatric acute-onset neuropsychiatric syndrome (PANS).
Despite the significant challenges posed by the ongoing pandemic to all aspects of our business, we managed to achieve revenues of €2.51 billion and net income of €438 million, representing growth of 4.9% and 16.7% respectively over the 2020 results. As I look forward to this year and beyond, I believe that Octapharma is well placed to continue to grow well into the future.”
Gross profit in 2021 was €808 million, down 3.8% from the prior year, while gross margin was down 2.9 percentage points to 32.2%, largely due to the higher costs associated with COVID-19. Our strong focus on costs, however, saw total operating expenses for the year fall to €349 million from €390 million in 2020. The Group’s effective tax rate was also significantly reduced by a deferred tax asset recognized in 2021, following corporate tax reform in Switzerland.
As a result, profit before taxes was a record €464 million and net income a record €438 million, up from €376 million in 2020. Net cash from operating activities was €484 million. Our capital position remains extremely strong, with an equity ratio of 80%.
"Our company is well positioned for future growth, which we expect will be supported by a significant return of plasma collection volumes in the coming year, by our continued investment in talent, the delivery of our operational transformation strategy, and the introduction of new production capacity,” said Roger Mächler, Chief Financial Officer of the Octapharma Group, adding: “Our success as a company is built on scientific excellence that benefits patients. Our ability to create value for all stakeholders is crucial to our future success and we will continue to vigorously pursue this strategy.”
The Annual Report 2021 provides a comprehensive overview of the Octapharma Group, including details of corporate governance and the financial results. To download the full Octapharma 2021 Annual Report visit our Annual Report section.
Headquartered in Lachen, Switzerland, Octapharma is one of the largest human protein manufacturers in the world, developing and producing human proteins from human plasma and human cell lines.
Octapharma employs around 10,000 people worldwide to support the treatment of patients in 118 countries with products across three therapeutic areas: Immunotherapy, Haematology, and Critical Care.
Octapharma has seven R&D sites and five state-of-the-art manufacturing facilities in Austria, France, Germany and Sweden, and operates more than 180 plasma donation centres across Europe and the US.