Noucor, a B2B business-focused chemical/pharmaceutical company driven by MCH Private Equity, ended 2022 with a turnover of €100 million, representing a 25% increase from the previous year.

Similarly, on its first anniversary, the company based in Palau Solita y Plegamance (Barcelona) invested 8 million euros in its three manufacturing plants, committed 7 million euros to research and development, and created 30 new jobs.

In its first year of existence, Noucor strengthened its position with a B2B business model focused on the development and commercialization of innovative products and generics. With a presence in over 100 countries, the company entered benchmark markets such as China, Saudi Arabia and the United Arab Emirates in 2022 with key products such as the antihistamine rupatadine.

Noucor CEO David Perdigo spoke about the company’s first results. “Our first year was marked by strong economic results and a record €15 million investment in research and development and infrastructure, which will allow us to continue to innovate and boost our sustainability plans, especially at our Urkim plant,” he said.

Perdigo also emphasized entering new strategic markets such as China, where Noucor launched in 2022 with Rupatadina. With this antihistamine, the company hopes to reach the 20% market share now in the hands of copies by 2026. “China is the second largest potential market for antihistamines in the world after Japan. This is a hard-to-reach market, very protectionist, but in which the quality of drugs is increasingly valued, ”said the CEO of Noucor.

During 2022, the drug also consolidated in key markets such as Japan (a country where it already holds the second largest antihistamine market share), Canada and Europe, demonstrating Noucor’s “excellent ability to compete in the international market.”

European funds

On its first anniversary, the company received European Next Generation funds to finance a project to improve the sustainability of the Urquima plant in Sant Fost de Campsentelles (Barcelona), which will be implemented between 2023 and 2024.

Noucor’s goal is to reduce emissions of volatile organic compounds into the atmosphere by more than 60%, well below legal limits. Similarly, the amount of waste water generated will be reduced by 80% and the clean water obtained from the evaporation process will be reused.

The total investment planned for this project is 6.1 million euros, and the European funding provided through the central government consists of a non-repayable grant of 617,000 euros and a loan of 4.3 million euros.

Noucor’s commitment to sustainability is also reflected in its commitment to solar energy. In the middle of last year, the company began working with 4,000 solar panels in Palau Solita and Plegamans, which provide more than 20% of its own energy consumption. Noucor has also reduced water consumption at these sites by 45% and is partnering with local food recycling project Recooperem.

Forecasts for 2023

As part of Noucor’s strategic commitment to its manufacturing facilities, in 2023 the company plans to allocate a total of €7.8 million to three facilities: the Urquima fine chemicals plant, a pharmaceutical plant, and a food accessories plant, the latter two located in Palau. Solita y Plegamance, where Noucor is also headquartered.

Another of the company’s main goals for this year is to invest 9 million euros in research and development, which represents an increase of two million euros compared to the investments made in 2022. Likewise, the year-end billing target is €115 million.

On a business level, Noucor is also working to expand certain medicines into new markets. This is the case of Rupatadina, which, after arriving in China in 2022, is scheduled to launch in the United States in 2026.

In this sense, the company has already started clinical trials in order to be able to submit a registration dossier to the FDA in 2024. Markets such as Australia and New Zealand are also among Noucor’s targets for rupatadine, an antihistamine the company is also working on in new developments.