Rovi says schizophrenia drug will not be launched in US, shares drop
Nov 7 -** Shares of Spanish pharmaceutical company Rovi ROVI.MC slump almost 11% on 2025 revenue forecast and its announcement that schizophrenia treatment, Risvan, will not be marketed in U.S. due to launch uncertainties
** Rovi expects a mid-single-digit percentage decrease in its operating revenue for both 2024 and 2025, compared to their respective previous years
** Sabadell's analyst highlights the news on Risvan treatment and points out that 2025 guidance is below expectations
** It also notes the company has lowered its peak sales forecast to 100-200 million euros, down from its previous estimate of 200-300 million euros
** Stock, on track for its worst day since November 2022, is the top loser on Spain's blue-chip index Ibex 35 .IBEX, which is up 0.3%
** Up to last close, shares were up 25.7% YTD
** Session's losses, however, wiped off over 400 million euros from company's market cap
Reporting by Marta Serafinko
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