COTEC Innovation Summit
Lisbon, Portugal, 18th February 2022 – Hovione announced today that effective March 1st, or as existing contracts allow, it will increase prices for its Products and Offerings for the global pharmaceutical industry, such as Minocycline, Doxycycline, Ivermectin, Fluticasone, and Mometasone.
The necessity of price adjustments stems from increases in the costs of raw materials, labor, energy, transportation, packaging, equipment, and maintenance. Price increases of up to 40% for off-patent Active Pharmaceutical Ingredients and Portfolio Products are required to offset these effects and continue to provide products sustainably to the market. For Development and Manufacturing Services, price increases will be applied to recalibrate the price to cost ratios based on the specific conditions of each program.
Hovione is dedicated to supporting the global pharmaceutical industry and patients around the globe with consistent and reliable supply meeting the most stringent technical, quality, and compliance requirements. We continue to invest in our people, sites, technologies, and products to ensure we meet this commitment.
In case you have any questions about these price increases, please contact your account manager.
About Hovione: Hovione is an international company with over 60 years of experience as a Contract Development and Manufacturing Organization (CDMO) and is currently a fully integrated supplier offering services for drug substance, drug product intermediate and drug product. With four FDA inspected sites in the USA, China, Ireland, and Portugal and development laboratories in Lisbon, Portugal and New Jersey, USA, the company provides branded pharmaceutical customers services for the development and compliant manufacture of innovative drugs including highly potent compounds and customized product solutions across the entire drug life cycle. In the inhalation area, Hovione offers a complete range of and services, from API, formulation development and devices.
Hovione was the first Chemical/ Pharmaceutical Company to become a Certified B Corp, is a member of Rx-360, EFCG and participates actively in industry quality improvement initiatives to lead new global industry standards.