Penn Announces Record Increase In Orders

Penn Announces Record Increase In Orders - 16 Oct 2006

There has been outstanding order growth of over 50% in both manufacturing and formulation services. There has also been continued growth and success in orders for other of Penn’s core service offerings. Significant collaborative agreements have been secured with US company Three Rivers Pharmaceuticals LLC and Danish company Pharmexa A/S for analytical and clinical trial supply services respectively. This increase in orders follows Penn’s recent announcement of an £1m investment grant and expansion programme including the creation of 30 jobs to further develop its position as a global provider for the international healthcare industry. Craig Rennie, Chairman and Chief Executive at Penn, commented; "This is a record rise in orders for Penn for the first five months of 2006. It is particularly pleasing that our order book has a strong geographical spread and two thirds of our orders this year are from outside the UK. We have seen strong growth in the North American, European and Nordic markets." Penn Pharmaceutical Services Ltd is a leading provider of outsourced pharmaceutical development services to the international healthcare industry. The company’s core business expertise includes a fully comprehensive product development service, which consists of formulation and analytical development, clinical trial manufacturing, packaging and supply management and extensive contract manufacturing. Penn also offers CMC Consultancy and Qualified Person (QP) Services.

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