Sirio Pharma (SIRIO) – the global nutraceutical contract development and manufacturing organization (CDMO) – announced record revenues at Vitafoods Europe, with international sales reaching near parity with domestic revenues for the first time.
The CDMO reports that overall turnover has risen to USD $508m during 2023 – up 42.87% year-on-year.
Sirio oversees global nutraceutical research and development programmes for many of the world’s largest brands and has experienced remarkable growth in international sales, boasting an impressive annual increase of 70.40%.
Sara Lesina, General Manager Sirio Europe & Americas, commented: “We have greatly strengthened and deepened our key partnerships this year, while also helping many new brands to quickly launch novel nutraceutical formulations. From here, our strategy is to partner with leading and well-known brands for premium products and we have seen great rises in sales across Europe, USA and APAC.”
International sales now account for some 48.33% of Sirio’s overall revenues, with domestic sales also reporting strong growth reaching $263M, up 24.11% in 2023.
Revenues from all Sirio’s core dosages hit new highs, with softgels accounting for 42.63% of sales, gummies 20.66% and liquids 11.78% – with respective annual sales growth of 54.00%, 24.81% and 24.66%.
The CDMO’s underlying net profits have increased by 32.39% and it will utilise the extra capital to invest in continuing manufacturing innovation. During the last year Sirio has secured more than 300 new projects and is supplying nutraceutical products in more than 50 countries.
