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Ergomed sees continued growth in Primevigilance after strong half

Published: 16:13 29 Sep 2016 BST

Ergomed's finance chief Stephen Stamp sees no reason why the stellar growth of its Primevigilance arm should slow.
Demand for its drug safety data is booming and Ergomed is now a go-to company in Europe, he says.
Sales in this division jumped by over 50% for the six months to end June and have rocketed from a standing start in 2008.
Ergomed’s hybrid model combines pharma services arm with stakes small stake in drugs, which Stamp believes is the only way a small company can afford the cost of drug research.
It has stakes in three drugs currently in clinical trial, including one that produced its phase III results early next year all of which have considerable potential, he explains.
In relation to the Brexit vote, he said it wasn't bad for business, and the firm does not have EU funding and he noted that over 75% of its revenues are earned outside the UK, so it's not UK dependent.
Earlier the firm said revenues had risen in the half year to £17.6mln (£14.5mln), with Primevigilance chipping in £5.5mln, a 53% jump on a year earlier.
Underlying profits [EBITDA] rose 12% to £1.9mln, though pre-tax profits dipped to £820,000 (£1.06mln) after £400,000 of M&A costs.

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