The Basque pharmaceutical company Faes Farma obtained a profit of 21,2 million Euros in 2009, resulting in an 8,5% increase with respect to the previous year thanks to the improvement of its nutrition and animal health business. Additionally, the company has increased its capital in 1,5 million Euros by issuing a Secondary Offering of 15 million shares at 10 Euro cents each.

The company's total sales in 2009 amounted to 195,3 million Euros, an increase of 0,6% thanks to the nutrition and animal health business. This sector improved its turnover in 9,9%, reaching 14,8 million Euros. This increase offset the 0,2% decrease of income in the pharmaceutical specialties area.

Faes Farma has announced that it expects its turnover and profit to increase "in high double digits" in 2010, if the company's forecasts are met; "the outlook for the upcoming years is also positive" they added.

Faes Farma's good prospects are based on the licensing of drugs, such as Bilastina, in over 60 countries, among other factors. Bilastine is one of the company's proprietary products leading the Respiratory area, one of Faes Farma's major research fields. The completion of the Bilastine clinical trials has triggered the group's outlicensing activity.

International expansion is one of Faes Farma's key objectives. In the short term, markets such as Turkey, Brazil and Morocco are especially relevant; and in a longer term others like Russia, Ukraine, Turkey, Mexico, Algeria and China.

Likewise, Faes Farma aims to promote the animal health business and to pursue business in non-controlled price market segments, with the goal that the latter may involve up to 25% of the company's total turnover.