“Our strong growth can be attributed to a number of factors, including the emerging pharma sector in the US – which is why the continent is a key market for us – and big pharma demand for complex and hazardous chemistries we provide,” said CEO Kevin Cook.
Clients’ drug pipelines are also increasingly focusing on highly potent molecules, he added
The contract development and manufacturing organisation (CDMO) hired 57 employees in the past year to support its growing active pharmaceutical ingredient (API) development manufacturing services at its Dudley, UK site, and plans to recruit an additional 50 this year.
Rising demand may also be attributed to companies’ growing reliance on suppliers in Europe, we were told.
“Increasingly, we are finding that API activities are moving back to the West to benefit from strong compliance records and quality standards,” said Cook.
Cook said he is looking to diversify the firm’s outreach. “Going forward our strategy will focus on the diversification of our customer and product base," he said. “We also have plans to expand our presence in Asian markets such as Japan, and have an ongoing investment plan to ensure we can continue to meet the various needs of our customers globally.”
The company has made a number of investments since its launch as an independent CDMO in 2016. In October 2017, the firm announced a £6m ($8m) investment in solid form capabilities in Dudley, UK, and in May this year, announced another £6m investment, on small to mid-scale API manufacturing capabilities.