Following an IPO and ahead of its fiscal 2023 earnings release next month, German drug containment and delivery specialist Schott Pharma is trumpeting its recent momentum.
Over the course of its 2023 fiscal year, Schott Pharma charted a 9% year-over-year revenue boost to €899 million (about $986 million), the company said Tuesday. For comparison, the company pulled down €821 million in fiscal year 2022.
Schott credited the gains to the expansion of its production capabilities, especially as they pertain to drug delivery systems and new production lines for prefillable polymer syringes in Germany.
Schott partners with a range of drugmakers in the biopharma industry. The company and its products are involved in several significant trends, such as the GLP-1 treatments from Novo Nordisk and Eli Lilly, plus mRNA vaccines from Moderna.
Schott’s revenue win comes more than a year after the company set out on its own. Back in August 2022, the glass conglomerate Schott formally set up a standalone company for its drug packaging unit, which it christened Schott Pharma.
Then, this past September, Schott Pharma launched an initial public offering.
Meanwhile, Schott Pharma on Wednesday said it would invest a “double-digit million euro amount” in a new pharma containment and delivery site in Jagodina, Serbia. The site is expected to start ramping up manufacturing of ampules for the pharmaceutical industry “in the course of 2024,” Schott Pharma said in a release.
The groundbreaking for that project is slated to take place at the end of December. During the first phase of the site’s operation, Schott Pharma plans to create 130 new jobs, with another 350 planned for the Jagodina facility’s eventual expansion.
As of September, Schott Pharma had 16 manufacturing sites in 14 countries. It packages 13 billion units annually and employs 4,700 people in 65 countries.
Schott is set to publish its full fiscal 2023 results on Jan. 26, 2024. The company's most recent fiscal year ran from October 2022 to September 2023.