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MADRID, July 28 (Reuters) - Spanish pharmaceutical firm Rovi raised on Wednesday its profitability targets for this year thanks to its contract to manufacture the COVID-19 vaccine developed by U.S.-based Moderna.
Rovi said it expects its operating income to rose between 35% and 40% in 2021 from the previous year thanks to the Moderna vaccine, up from a previous target of between 20% and 30%.
Rovi, which currently bottles and finishes the Moderna vaccine for most markets outside the U.S., signed a contract in April with the U.S. company to also manufacture active ingredients for the vaccine.
"The massive vaccination programmes are ongoing all over the world and we are very proud to contribute to society with our work in this historic moment," the company said in a statement.
The vaccine business already boosted Rovi's operating income by 52% in the first half of the year from the same period a year ago to 290 million euros ($342.69 million), while its net profit jumped 72% to 51 million euros.
($1 = 0.8462 euros) (Reporting by Inti Landauro, editing by Louise Heavens)