Guerbet Revenue Down 9.1% in First Nine Months of 2020
Guerbet, a specialist in contrast agents for medical imaging, reported its third-quarter revenue with a 9.1% decrease in constant exchange rates for the first nine months of 2020. The company noted a gradual upturn in activity during Q3.
Guerbet, a global specialist in contrast agents and solutions for medical imaging, announced its revenue for the first nine months of 2020. As of September 30, 2020, reported revenue stood at €536.0 million, an 11.2% decrease compared to the same period last year, including a negative foreign exchange impact of €12.3 million. Revenue at constant exchange rates (CER) totaled €548.3 million, down 9.1% from the prior year.
Following a second quarter decline of 17.8%, third-quarter revenue at CER reached €181.3 million, a decrease of 10.7%. This reflects a gradual upturn in activity, particularly in Asia and Europe, though the company acknowledges continued, albeit erratic, impacts from the COVID-19 pandemic on procedures and patient volumes.
In Asia, activity remained strong, with cumulative CER revenue increasing nearly 10%. Europe saw a significant improvement in the third quarter, with revenue down only 6.5% CER, a marked change from a 21.1% decrease in the first half. The Americas region experienced a greater than 20% CER decrease in Q3, partly due to the sale of the Montreal plant which impacted subcontracting activity.
Diagnostic Imaging revenue fell 11.1% CER to €462.5 million. Magnetic Resonance Imaging (MRI) sales decreased 17.2% CER, while CT and Cath Lab revenue declined 7.6% CER. Interventional Imaging revenue remained stable at 0.9% CER growth due to Lipiodol® sales.