IS Pharma on track

DRUG development group IS Pharma has traded in line with its management’s expectations in the first half of the year.

The Chester-based group has launched several drugs this year and in June revealed record annual sales and profits figures, with a 73% hike in revenues to £12.2m and and a 70% surge in profits to £2m.

In a pre-close statement said its portfolio “continues to grow strongly” driven by leading products Variquel, Aloxi and Cryogesic.

“The development of the group’s international business into high potential markets continues on track.

“Of particular note, following the successful completion of European Mutual Recognition Procedure for Variquel, we have now received national approvals in 9 of the 14 EU territories and the majority of launches are expected during the current financial year.”

IS Pharma said Variquel, which is used to treat internal bleeding, is benefiting from a strong launch and was undergoing priority review by US regulators.
Half year results for the six months to the end of September will be revealed in December.