The Argentine animal health company Biogenesis Bagó expects to reach 300 million dollars in turnover (around 282 million euros) in 2027 and enter the top 20 in the sector, according to what its CEO, Esteban Turic, has told Efeagro.
This forecast represents an increase of 35% compared to the 222 million dollars (208 million euros) invoiced in 2022 and an advance from the 25th position it currently occupies in the global veterinary sector, which exceeds 39 billion dollars in as a whole (35.6 billion dollars).
In an interview with Efeagro, Doctor in Veterinary Medicine and Master in Bacteriology has detailed that the growth in the last three years of this leading company in vaccines against foot-and-mouth disease and rabies has been an average of 14%, while the market grew by 3.1%.
The CEO of the Argentine company Biogenesis Bagó, Esteban Turic. Epheagro/Bagogenesis Bagó
According to Turic, the firm has achieved this development due to the ability to be “competitive at an industrial level, with products that allow us to expand geographically (especially vaccines against foot and mouth disease and rabies) and expert technical support in the reproduction area; We are a very strong, very competitive company; good at identifying needs and responding to them and not failing.” Biogenesis Bago – which was born from a strategic alliance and subsequent merger in 2006 between Bagó and the Insud Group (Biogenesis) – has a production capacity of 450 million doses of vaccines and 3 million units of pharmaceutical products, with two plants in Argentina (Garín and Monte Grande) and presence in 47 countries in America, Europe, Asia, the Middle East and north of Africa.
In 2022, it acquired the hormonal business line for animal reproduction of the Spanish Hipra, which for Turic “was like our landing in Europe; “It allows us to be more in contact with laboratories with which we can establish new businesses and study the possibility of increasing our portfolio in Europe.”
International vocation
With a strong vocation for international expansion -“the shareholders never limited the company’s projection to Argentina or Latin America”-, 75% of its turnover is produced in Latin America, 15% in Asia, 5% in the United States and the rest, between Europe, Middle East and North Africa.
By business lines, 70% of the turnover comes from the vaccines segment and 30% from the rest of the products, and 8% is reinvested in industrial resources. In this sense, Turic has highlighted the company’s “commitment” to the approach “One Health”), the global approach proposed by the World Health Organization that unites the objectives of human, animal and environmental health.
Two workers vaccinate a sheep. Epheagro/Archive. Juan Herrero.
“A company that 70% of what it sells is intended to prevent diseases has a direct impact on the health of animals and therefore people, since some of these diseases can be zoonotic (transmissible),” he said. indicated. Biogenesis Bago has expanded in China, South Korea, Vietnam and Saudi Arabia hand in hand, fundamentally, with its foot-and-mouth disease vaccine, with projects that begin with a “joint venture” with local companies, product supply, technology transfer and development of industrial plants so that they can carry out their own production .
In addition to vaccines, the Argentine firm has in its portfolio reproductive hormonal products, antiparasitics, mineral supplements, and given the growth of the market for pet animals It foresees that in five years this will be a line that occupies 15% of its volume; For Turic, “we also have to work on prevention in that segment and internalize the role of the veterinarian.”
“Every 9 minutes a person dies from rabies,” despite there being an “effective and economical” vaccine, which is why with our Healthy World Foundation “We work on neglected diseases and in communities with very low resources to carry out vaccination and awareness campaigns,” he highlighted. In his opinion, we must “raise awareness”, because animal diseases (production and companionship) “not only produce economic or profitability losses, they can also be passed on to workers and society.”
2023-09-16 09:00:25
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