EuroAPI suspends Italian site

EuroAPI has suspended all API production at its site in Brindisi, Italy, until further notice. This followed an internal audit in which “quality control deficiencies due to potential local misconduct” were identified. These are being further investigated.

The site produces 11 APIs and intermediates, mostly anti-infectives, including spiramycin, rifaximin, rifampicin and teicoplanin. In 2023, its sales were €63 million, of which 43% related to EuroAPI’s former parent, Sanofi. The relevant health authorities have been informed. The company added that it has initiated a forensic audit and will inform its customers.

The value of non-current assets at Brindisi was fully impaired in the 2023 consolidated accounts. This situation is expected to impact the group's operational and financial performance and consequently, the full-year 2024 guidance is suspended. A revised full-year 2024 outlook will be provided in Q2 2024.