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Milestone Payments Fuel Growth For Formycon In 2023

The Company’s Biosimilar Partnerships Contributed To Its €77.7m Revenue

 
• By Adam Zamecnik

Formycon has shared its results for 2023, reporting revenue growth and exceeding projections for its working capital, as the company prepares for approvals in the coming year. 

Formycon website homepage. Formycon logo visible
• Source: Shutterstock

Formycon reported an 83% growth in group revenue to €77.7m ($83.3m) in its 2023 fiscal year on the back of ramped up income from partnerships and milestone payments.

Specifically, the company attributes this increase to receipt of several milestone payments sent by Fresenius Kabi as part of the companies’

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