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Idifarma has announced a growth of more than 50% over the past two years. Revenue is expected to hit approximately EUR5.3 million in 2016, growing from EUR3.5 million in 2014.
Idifarma has announced a growth of more than 50% over the past two years. Revenue is expected to hit approximately EUR5.3 million in 2016, growing from EUR3.5 million in 2014, as the Spanish CDMO continues to expand its international customer base and strengthen its position in specialist production capabilities. To meet increased demand for its clinical and commercial capabilities, the team is expected to reach 100 employees in 2016, growing from 75 in 2014.
According to Luis Oquiñena, general manager and co-founder of Idifarma, in a press release, Idifarma is supporting more projects involving highly potent drugs as well as niche, low-volume generic and innovative drugs.
The company’s contract manufacturing services represent the biggest growth area of the business and Oquiñena revealed that Idifarma is planning to make further investments into its manufacturing capabilities in the coming months and into 2017.
The CDMO is currently investing in additional analytical equipment including ultra-performance liquid chromatography (UPLC) and high-performance liquid chromatography (HPLC) technology, increasing its chromatography capacity by more than 50% in the past two years.
Idifarma marks its 15th anniversary this year. The CDMO specializes in assisting drug developers with complex formulation and development projects, such as overcoming low solubility challenges using spray drying technologies. Idifarma also has expertise in solid dosage form manufacturing capabilities for low-volume products, with a focus on tablet and capsule production and expertise in handling high potency products.