Member Article

Expanding Aesica makes most profitable list

A rapidly expanding Tyneside Pharmaceuticals firm has been named as the 51st most profitable British company in the Sunday Times PwC Profit Track.

Aesica Pharmaceuticals recorded annual profit growth of 59.39% and was the only pharmaceutical manufacturer in the listing.

The Sunday Times Profit Track 100 league table ranks the top one hundred British private companies with the fastest-growing profits, based on their latest three years available accounts.

Earlier this year the firm was ranked third in the Sunday Times Deloitte Buyout Track 100, climbing 47 places from its 2010 position.

However, this is the first time the company has ever made this list.

Chief executive Dr Robert Hardy said: “Since its creation in 2004 we have had a very clear strategy in place for expansion for Aesica.

“Earlier this year we completed the acquisition of three European manufacturing sites, which doubled our workforce to approximately 1,300 staff and we are currently looking at further expansion in Asia and the USA, where we already have a presence.”

Significant activity for Aesica over the past three years includes the acquisition of R5 Pharmaceuticals in Nottingham, as well as manufacturing sites in Monheim and Zwickau in Germany.

This was posted in Bdaily's Members' News section by Ruth Mitchell .