Cyprotex targets US to build on 2010 revenue growth
Growth drivers at Cyprotex include expansion into the US and beyond its traditional ADME (absorption, distribution, metabolism, and excretion) focus. Acquiring Apredica furthered both these efforts and, six months on, Cyrpotex is very pleased with progress.
“[The acquisition has] gone as smoothly as I could have possibly expected in my wildest dreams”, Anthony Baxter, CEO of Cyprotex, told Outsourcing-Pharma. Now, with integration well underway, and the Macclesfield, UK toxicology site operational, Cyprotex is looking to grow.
Revenue increased by 18 per cent to £5.92m ($9.62m) in 2010 and an analyst predicts stronger sales growth for the coming year. In an analyst note Singer Capital Markets predicts growth of 40 per cent, with expansion of US sales and the Apredica business being the main drivers.
As well as giving Cyprotex a presence in the US the acquisition of Apredica strengthened its in vitro toxicology. Cyprotex added toxicology capabilities at its Macclesfield site in 2010, a move discussed by Baxter in the embedded video, and the offering at Apredica is complementary.
“Because of shifts in the drug discovery and development market, we have repositioned Cyprotex to encompass in vitro toxicology. This is a young and growing market, much like in vitro ADME was a decade ago”, said Cyprotex.
Macclesfield was equipped to perform simple, well known assays with a view to moving into high-content toxicology. Apredica has these capabilities but can also perform more intricate work. Just prior to the acquisition Apredica strengthened its high-content offering by buying Cellumen.
Having expanded its capabilities Cyprotex is “well positioned for growth as the industry emerges from recession and the new in vitro toxicology market grows”, said Steve Harris, chairman of the company.
