Member Article

Durham's Quantum Pharma Plc reveals 25% revenue growth

Quantum Pharma Plc, a Durham-based pharma developer, has announced a half year revenue increase of 25%, attributed to a ‘strong niche pharmaceuticals pipeline’.

Disclosing financial results for the six months to 31 July 2016 , the firm’s revenue rose from £34.3m to £42.8m.

Revenue growth across the firm’s three divisions, with the strongest advance coming from a £5.9m Medication Adherence sales increase, enabled the business to remain in (£0.8m pretax) profit.

Quantum’s core Specials division performed well during the period. The firm signed a new five-year contract extension with AAH Pharmaceuticals Limited, the UK’s leading pharmaceutical wholesaler, which also benefits from the supply to an additional 281 Sainsbury’s in-store pharmacies acquired by Lloyds Pharmacy.

Moreover, its Niche Pharmaceuticals division launched five products, including expansion of the Vitamin D range with cholecalciferol and ergocalciferol capsules, and two further products in the Mucodis® range of medical devices.

Chris Rigg, appointed as the group’s CFO in March 2016, said: “The core specials business is performing well and launches from the Niche Pharmaceuticals pipeline are being brought to market largely in line with plan.

“We found that the core specials business remains strong and cash generative and the potential still exists to deliver significant growth from our strong Niche Pharmaceuticals pipeline, including an exciting pipeline of unlicensed to licensed products where market data continues to support its potential sales value.

“We believe that a simplified business, primarily focused on specials and the group’s unlicensed to licensed growth platform offers the best opportunity for value creation.

“The board is confident in the growth potential of the business from this revised base with its renewed focus on our key strategic objectives.”

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