Guerbet reports Q1 revenue decrease

Contrast agent developer Guerbet reported a decline in revenue for its first quarter of 2021 (end-March 31) as the company continues to work through the effects of the COVID-19 pandemic.

For the first quarter, Guerbet reported revenue of 176.3 million euros ($213.2 million U.S.), down 11.5% at current exchange rates and down 6.5% at constant exchange rates compared to 192.1 million euros ($232.3 million) in the same period a year ago.

Excluding sales from Guerbet's Montreal site, which was sold in July 2020, revenue at constant exchange rates for the period was down slightly by 3% from the first quarter of 2020, which was not yet affected by the COVID-19 pandemic.

While the Americas (excluding the contribution of the Montreal site) saw a decrease in like-for-like sales (17.1%), improvement is being seen in Europe, the Middle East, and Africa as the group gradually returns to normalcy. Sales in Asia meanwhile were slightly up by 1.7% at constant exchange rates, with robust sales in Japan and China.

Despite the overall decrease, company leaders say they are confident that revenue growth will be seen in the second quarter of 2021.