Avenacy Reports Strong 2024 Performance, Outlines 2025 Strategic Priorities
KUALA LUMPUR, Jan 7 (Bernama) -- Avenacy, a specialty pharmaceutical company focused on supplying critical injectable medications, has provided an update on recent business highlights and financial performance for 2024 and outlined its strategic priorities for this year.
The company shared the updates ahead of its participation in the 43rd Annual J.P. Morgan Healthcare Conference from Jan 13-16, in San Francisco, California.
Avenacy’s leadership team, including Co-Founder & Chief Executive Officer, Jeff Yordon; Chief Operating Officer, Joe Mase; and Vice President of Finance, Peter Jensen, will be meeting with investors and showcasing the company’s recent accomplishments and plans for 2025.
“2024 was a breakout year for Avenacy marked by exceptional growth and tremendous progress. 2025 will be a pivotal year for the organisation, and we are confident in our ability to achieve our ambitious portfolio and broader business goals.
“As we continue to position our business for accelerated growth, we remain committed to our mission of enhancing patient care and addressing critical gaps in the United States healthcare system,” said Yordon in a statement.
In 2024, Avenacy achieved solid revenue performance in the first full year of operation, underpinned by its portfolio of 14 critical injectable medications. The company’s fiscal performance establishes a strong foundation for future growth, with expectations of continued annual sales growth and profit expansion.
The company has also built strong commercial leadership and infrastructure, establishing partnerships with major wholesalers, completing the necessary staffing and securing state licences. Avenacy's leadership team strengthened with the addition of Dr Patrick Soon-Shiong, a pharmaceutical veteran, who brings extensive experience in the commercialisation of injectable generic medications.
All of its products feature differentiated packaging and labelling to assist pharmacists and clinicians with accurate medication selection. Avenacy continues to pursue opportunities to bring products to market that improve safety and convenience, such as ready-to-use dosage forms and formulations that are easier to store.
Looking ahead to 2025, Avenacy remains on track to launch over 25 products by year-end, continue to build-out its foundational portfolio of critical acute care medications and shortage products, and secure further investment to support its long-term growth portfolio.
Avenacy raised capital in August to fund its 2025 growth, and the company is seeking additional funding to expand both its foundational and growth portfolios. As it enters its second year of operations, Avenacy is focused on sustaining its momentum and securing strategic investments for continued success.
-- BERNAMA
