A UK-based contract development and manufacturing organisation (CDMO) has more than doubled its sales since its formation in 2016 as demand for its hazardous chemistry capabilities and active pharmaceutical ingredient (API) services grows.
Sterling Pharma Solutions, which launched as an independent CDMO following a management buyout (MBO) of the Shasun Pharma Solutions Dudley site in September 2016, has experienced steady growth since its conception resulting in a 106% increase in sales.
This growth has been supported heavily by a 164% per cent increase in US sales since FY16, meaning the company’s business in North America now makes up 68% of its portfolio. The firm is anticipating further growth as it continues to make significant investments into its API capabilities.
Kevin Cook, CEO at Sterling Pharma Solutions says: “From our UK facility, we are building a global API services business with customers in the US, UK, Europe and Asia.
“Increasingly, we are finding that API activities are moving back to the West to benefit from strong compliance records and quality standards, while highly potent molecules are also more prominent in the drug pipeline. As a full service CDMO specialising in the development and production of high potency APIs and hazardous chemistry, we are well positioned to meet this market demand, taking products from proof-of-concept to commercial scale manufacturing.”
To support demand for its API development and manufacturing services at its facility in Dudley, UK, Sterling has recruited 57 people over the last 12 months, increasing its team to more than 370 employees. The firm is also planning to recruit a further 50 people in the second half of 2018.
Kevin continues: “Our strong growth can be attributed to a number of factors, including the emerging pharma sector in the US, which is why the continent is a key market for us, and big pharma demand for the complex and hazardous chemistries we provide.
“Going forward our strategy will focus on the diversification of our customer and product base. We also have plans to expand our presence in Asian markets such as Japan and have an ongoing investment plan to ensure we can continue to meet the various needs of our customers globally.”
Sterling Pharma Solutions is the UK’s largest provider of API development and manufacturing services to the pharmaceutical industry and specialises in handling hazardous chemistries. Its diverse portfolio now includes more than 60 products with no single product representing over 15% of its total sales.