Record year for IS Pharma

NORTH West pharmaceutical group IS Pharma has hailed a record year for sales and profits.

The Chester-based company which is listed on AIM specialises in buying, developing and marketing hospital medicines.

Results for the year to the end of March showed a 30% hike in profits to £2.6m on revenue up 17% to £14.2m.

Variquel, a critical care product used to treat oesophageal varices, was among the best performing products. It was launched in 13 European markets during the year and sales are up 80% on last year.

Its cancer care product Aloxi, which treats patients suffering from nausea and sickness as a result of undergoing chemotherapy, was another good performer as revenues soared 84%.

Chief executive Tim Wright said: “We are pleased to report another year of exceptional performance as we continue to deliver against our strategy of building a leading European speciality pharmaceutical company. 

“Revenues and profits continue to grow and product acquisitions and licensing activities have further strengthened our portfolio.

“The roll out into Europe of Variquel and Episil (a recently-acquired oral spray used to treat soreness in the mouth caused by chemotherapy, two of our key promoted products, should accelerate future growth in revenues which, together with the continued expansion of our core portfolio, enables us to look to the future with confidence.”