Almac Group turnover surpasses £500 million for first time 

Pre-tax Profits recorded at over £33M

 

Craigavon, N.I., 4 June 2018Almac Group, the global contract pharmaceutical development and manufacturing organisation, has reported a 19% rise in revenue to £531M.

The global company has also reported an increase in pre-tax profits, up from £27M in 2016 to over £33M.

Globally, employee figures increased by over 10% to 4,407. Of this total 2,920 staff are employed at Craigavon, representing an increase of also 10% or 270 staff on the previous year.

The figures were recorded in Almac’s annual report with its results for the year ending 30 September 2017.

2016 pre-tax profit was recorded at £27M. This year’s figure of £33M benefited from upfront and other payments relating to the out-licensing of oncology products which had been developed in house by the group and which also contributed to the profit before tax figure for the year.

The company continued to invest in expansion projects in 2017 with the building of additional lab and office facilities and the ongoing construction of one of the largest pharmaceutical cold store facilities in Europe at its Global HQ campus in Craigavon.

Group CEO, Alan Armstrong commented: “2017 was a strong year for Almac with turnover over £531 Million and profits surpassing £33 million. During the year we made significant investment for the long term benefit of the Group including global expansion into key strategic territories. The financial benefit of these investments may not be realised immediately, however they will ensure steady and continued growth of the Group into the future.  All our profits are reinvested into the business enabling us to offer best-in-class services and products to our clients and continue to be a leader in the life sciences sector.”

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ICON Reports First Quarter 2018 Results

Highlights from the quarter include:

– ICON Helps Establish New Industry Standards Group to Improve Clinical Trial Collaboration and Execution
– ICON opens a new office in Boston
– Excluding the impact of ASC 606, net business wins in the quarter were $590 million; a book to bill of 1.28.
– Excluding the impact of ASC 606, closing backlog of $5,053 million, an increase of 17.2% year on year.
– Quarter 1 reported revenue of $620.1 million. Excluding the impact of ASC 606, quarter 1 revenue was $462.6 million, representing a 7.1% increase year on year.
– Reported income from operations was $91.7 million, or 14.8% of revenue. Excluding the impact of ASC 606 income from operations was $92.8 million or 20.1% of revenue.
– Reported earnings per share of $1.42. Excluding the impact of ASC 606, earnings per share of $1.44, an 11.6% increase year on year.
– Earnings guidance increased by $0.02 to reflect quarter 1 share repurchases to $5.91 – $6.11. Revenue guidance reconfirmed in the range of $2,520 – $2,640 million.

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Almac Group Appoints David Taylor as Head of Manufacturing Operations

N.I., 01 May 2018 – David Taylor joined the Almac Group in November 2017 as Head of Manufacturing, Almac Sciences.  He is tasked with the overall accountability for small molecule API and peptide manufacturing in Craigavon, and delivering on Almac’ Sciences’ supply chain operations at the Northern Ireland site.  David has worked in the pharmaceutical and fine chemical industries for over twenty-two years, and brings with him a strong background in both the technical and manufacturing disciplines, allowing him to lead multidisciplinary teams to deliver streamlined operational outcomes. In an industry with significant emphasis on safety, quality and regulatory compliance, David has the skill set needed to anticipate and successfully communicate planning and procurement changes to customers, clients and third-parties abroad.

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Voucher sale brings $110M payday for Spark Therapeutics
By  – Senior Reporter, Philadelphia Business Journal

Spark Therapeutics is taking advantage of a perk in a Food and Drug Administration program for a nine-figure payday.

The Philadelphia gene therapy company said Monday it has sold its rare pediatric disease priority review voucher to Jazz Pharmaceuticals for $110 million. Spark will receive the payment once the transaction closes.

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