It may feel like only yesterday we were planning for 2016, but here we are at the end of another successful year. While the last 12 months have seemingly gone in a flash, it’s been another encouraging year at Symbiosis Pharmaceutical Services.
With the support of our clients, staff, suppliers and partners, I’m pleased to say it’s been another steady year of growth at Symbiosis. Our strategy to grow the business throughout 2016 in a gradual and sustainable manner has been achieved.
We have assisted more clients than ever before to produce batches of pharmaceuticals so they can hit their clinical trial milestones. As a result, our team increased by 30% this year, ensuring we have been able to meet increasing demand while servicing clients to the highest possible standards.
Most encouragingly for me is the monumental effort I’ve seen from my colleagues to drive forward our clients’ projects and to help them succeed. Our role in supporting their clinical progression has fostered many existing long-term relationships and created some new ones. Throughout the year, we have remained committed to providing operational flexibility and speed of project delivery, underpinned as always, by our solid focus on the latest regulatory compliance guidelines.
Some of you may recall that back in 2015, we took the decision to strategically focus on the North American market given how well our scale and capabilities are suited to the needs of early stage biotech drug companies located there. I’m pleased to update you that we have seen very positive growth from North America, which now accounts for almost a third of our revenues. We have achieved this while simultaneously building our client-base in Europe.
I’m also proud to end the year with an announcement that we have identified an office which we will lease in Cambridge, MA. Given that this is the epicentre of the global biotech community, it is the ideal location for us to be based in order to service our emerging biotech and speciality pharmaceutical clients in the US.
As we move into 2017, we anticipate continued growth in the outsourcing market within our industry. While there will no doubt be further consolidation in the market, we also anticipate a real increase in the development of personalised medicines and a greater need for agile, specialist CMOs like Symbiosis who can rapidly manufacture small batches for small patient populations to the highest regulatory and service.
I’d like to take this opportunity to wish you a Merry Christmas, Happy Holidays, and all the very best for the New Year from the whole team at Symbiosis. We look forward to working with you again in 2017 and wish you every success in the New Year.
Colin MacKay, CEO at Symbiosis