Early Development Services Enjoy Strong First Half
Results from the first half of the year highlighted the importance of external fundraising to drive elements of the outsourcing ecosystem. Contract service providers supporting early development, especially those with a strong presence in drug discovery, posted a revenue increase of 18% on a constant currency basis, led by WuXi Apptec and Charles River Laboratories.
Large and small molecule API manufacturers grew revenues by more than 10% as Lonza, Cambrex and WuXi all reported impressive results.
At the other end of the spectrum, finished dose manufacturing revenues grew only 1%. Segment revenues were negatively impacted by a 3% decline in Baxter Biopharma Solutions revenue, while Recipharm sales were essentially flat.
Clinical CROs as a whole posted reasonable results, although there are signs that they are finding it challenging to maintain the pace of the past few years.
This posting is taken from an article in the August 2015 issue of Bio/Pharmaceutical Outsourcing Report. The full article addresses what the financial results reflect and more. To learn more, click here.