Almac Group’s turnover up from £43m to £677m in 2020
Craigavon’s Almac Group, the global contract pharmaceutical development and manufacturing organisation, has reported a £43 million (6%) rise in turnover from £634.3 million in 2018/19 to £677.3 million for its financial year 2019/20.
During this period, the revenue increase resulted in improved pre-tax profits which were recorded at £63.5 million, up from £47.6 million for the same period the previous year. Group performance in 2020 was enhanced through the receipt of a number of out-licencing payments from products developed in-house.
Average employee figures increased from 5,150 to 5,466 during the same period. These figures were recorded in the organisation’s annual report for year ending September 30 2020.
Throughout this year, Almac invested significantly in both new and existing facilities to meet ongoing global demand for its unique, high-quality solutions. In addition, the Group completed the acquisition of Swedish-based boutique healthcare company, POA Pharma, which added substantial new therapeutic areas and territories to its existing Galen portfolio.
As the race for a vaccine and treatment for Covid-19 escalated, Almac partnered with a variety of global pharmaceutical, biotech and research institutions to support over 140 separate crucial research projects through a range of service areas, including analytical services, peptide development, expedited Interactive Response Technology (IRT) support and clinical trial management.
Alan Armstrong, Almac Group CEO, said: “The last financial year was challenging for everyone as companies, including Almac, had to adapt much of their typical operational practices in response to the pandemic whilst ensuring the safest working environment for employees. I am extremely proud of Almac’s efforts to ensure client service levels were not impacted in any way throughout and ensuring patients received the medication they so depend upon. The commitment, dedication and professionalism from our employees has been exemplary and I wish to thank them all.
“Almac’s mission is to “advance human health” and this has never been more applicable than right now as we continue to support multiple companies in their quest to make significant advances in the fight against Covid and other diseases. With 100% of our profits reinvested into our business, we have already committed to a number of significant expansion and improvement projects across our sites in the US, Europe and Asia in order to ensure we provide the premium solutions our global client base rely on.”
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