AMRI has seen a lift in revenues thanks to its growing large scale manufacturing business.
The firm reported a four per cent increase in total revenues this Q3 reaching $45.6m (€35.7m) – $29.3m of which was attributed to its large-scale services which grew 14 per cent year-on-year.
CEO Thomas D’Ambra attributed the success to recent deals such as a five-year extension recently struck with Shire over the supply of an unnamed active pharmaceutical ingredient (API).
Last quarter, the company also announced an unexpected rise in business for its aseptic filling plant in Burlington,US, including a contract with Cardium Therapeutics for pre-filled syringes.
Contract discovery services and small scale manufacturing however did not do so well, with five and twelve per cent revenue drops respectively.
But the contract development and manufacturing organisation (CDMO) remains confident in the future of its entire contracting business with “the positive underlying trends”.
D’Ambra was particularly enthusiastic about the firm’s SmartSourcing approach , under which it provides a mix-and-match range of in-sourcing and outsourcing services. Eli Lilly and Knopp both rank among some of the latest companies to take advantage of SmartSourcing in their drug discovery departments.
Buoyed by “several other opportunities with existing and new customers that could potentially provide AMRI with a stronger, more diverse business base as we enter 2013,” D’Ambra said the firm continues to expect research and development (R&D) and small scale growth.
He said: “Although the global economy remains challenging, our outlook for the market remains unchanged with anticipated growth in R&D spending and incremental increases in the level of outsourcing across the biopharmaceutical industry over the coming year.
“With SmartSourcing, which empowers clients to better balance risk, enhance flexibility, and obtain tailored solutions that meet their specific needs, AMRI is well positioned to benefit from these market trends.”