The new facility follows on the company’s recent growth, with more than 30 new pharma and biotech clients adopting its translational pharmaceutics platform. The increase in adoption of the platform has driven a year-on-year increase in revenue of 24%, with similar growth levels anticipated over the next 12 months.
Quotient CEO Mark Egerton told Outsourcing-Pharma.com: “The bulk of our investment program is focused on an expansion of our pharmaceutical sciences capacity. Specifically, we will be bringing a second GMP manufacturing facility on line in the autumn of this year – which will double our manufacturing capacity. This will also include a range of investments in manufacturing equipment.”
The company also plans to double the footprint of its formulation development and pharmaceutical analysis laboratories by the end 2015, Egerton said.
In addition, the company saw a significant proportion of studies begun in 2015 that were from repeat customers whilst completing successful routine GMP and GCP (good clinical practice) MHRA (Medicines and Healthcare products Regulatory Agency) inspections and more than 50 client audits.
Egerton added: “We have made significant progress over the past 12 months surpassing all expectations, with growth rates well above industry norms. Our growing customer base, coupled with the positive dynamics of the pharma R&D outsourcing market, have been the key drivers behind our decision to increase our operating capacity.”
He added that clients are increasingly interested in coming back to Quotient for repeat work, with just over half of its business in the last year classified as repeat business.