The chief operating officer of Fujifilm Diosynth Biotechnologies UK has hailed his team after reporting major growth in revenue and pre-tax profit.
Headquartered in Billingham, the company is part of the global Fujifilm organisation and provides process development and contract manufacturing to biotechnology and pharmaceutical companies who are developing new biological medicines.
Turnover for the year ended 31 March 2019 soared to £125.9m, up from £81.4m in 2018 and a stark increase of 55 per cent.
During the financial year the company experienced an increase in small and large scale microbial, mammalian and analytical services, driven by increased batch manufacture across the small scale, large scale and mammalian sectors.
Additionally, the company grew its monoclonal antibodies pipeline resulting in further sales.
Pre-tax profit also reached £22.1m, up from £7.7m in the previous year.
This was due to an increase in sales and despite the cost of sales increasing by £25.6m.
Paul Found, Chief Operating Officer said:
“It is a testament to the hard work and dedication of our staff in helping us achieve such a performance and bringing important medicines closer to patients in need,”
“Through 2020 we will be continuing to invest in expanding our Teesside Biocampus to ensure we are well placed to capitalise on growth in the coming years.”
Chief financial officer Mike Lyons added:
“Business continues to grow to record levels across our service offering and we are excited about the future as we continue with technical leadership and world class manufacturing facilities in advancing tomorrow’s medicines.”
Credit: Insider Media
By Fujifilm Diosynth Biotechnologies