Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

CiToxLAB Group Increases Revenue by 25 Per Cent over Full Year of 2012

Published: Thursday, February 21, 2013
Last Updated: Thursday, February 21, 2013
Bookmark and Share
Despite a stuttering outsourced preclinical development market, the global expansion of the CiToxLAB Group has attracted more clients.

CiToxLAB announces that the group’s consolidated revenue for 2012 reached EUR 78.4 million (USD 102 million approximately). This represents a 25 per cent increase compared with 2011.

In Europe, revenues reached EUR 54.9 million (USD 71 million approx). The four European CiToxLAB centers increased their revenues by 16 per cent (France), 15 per cent (Hungary), 10 per cent (Denmark) and 4 per cent (AtlanBio, France) respectively.
 
CiToxLAB North America, headquartered in Montreal, achieved revenue of CAD 30.5 million (EUR 23.5 million). These are the highest revenues since the facility (previously LAB-Research) was founded (plus 68 per cent compared with 2011).
 
All the centers significantly increased EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization). CiToxLAB Group now employs more than 850 people.

According to the 2012 CRO Industry Update from equity research company William Blair, the market for outsourced preclinical development activities grew by only 7 per cent in 2012. Within preclinical services market, the toxicology segment grew by an even more modest increase. One reason for the 25 per cent growth obtained by the CiToxLAB Group is that clients’ projects can now be carried out both in Europe and North America. CiToxLAB Group saw increased revenues in all market segments: big and medium pharma, biotech companies, chemical and agro industries. In geographical terms, Europe was as active as North America. Asia, where CiToxLAB operates through representatives in Japan and South Korea, represented a limited but increasing market share. CiToxLAB works today for more than 400 customers including nine of the top twenty pharmaceutical companies.
 
“We are very pleased with the positive trend of our company’s performance in 2012, which took place in a difficult economic environment,” said Dr Jean-Francois Le Bigot, chairman and CEO of CiToxLAB Group. “CiToxLAB is now recognized as a global company. This is a major advantage for many of our clients. We can provide tailored solutions to our clients, in order to meet their requirements for the international development of their products.”
 
Dr Le Bigot attributed part of the group’s success to the retention, quality and stability of the scientific staff, especially at the senior level. Most of the senior scientific staff has been working with the company for over ten years and often more. He also indicated that the five CiToxLAB sites have been inspected by the competent regulatory authorities in 2012 and were given renewal of their full GLP, ISO or GMP compliance.

In 2013, the company anticipates an increased demand in the field of highly innovative therapeutics, in particular for the development of biologics. This includes prophylactic or therapeutic vaccines, antibodies and other types of large molecules, in which CiToxLAB is recognized as having relevant know-how and strong experience. The company has provided safety testing in Non-Human Primates (NHPs) for several decades and more recently has validated models for the assessment of reproductive toxicity in NHPs. CiToxLAB, through its centre in Denmark, historically known as Scantox, is the world leader in the field of toxicity, reproductive toxicity and juvenile studies in minipigs. In France, CiToxLAB now also provides reprotoxicity studies in rabbits specifically designed for the evaluation of new vaccines, as defined in the FDA Guidelines, to which Paul Barrow, senior scientist and director of projects, contributed.
 
“We view ourselves as a science-driven CRO. We continuously invest as much as possible in the development and validation of new techniques in order to provide innovative tools to meet the needs of our clients in an ever-more challenging biomedical environment,” said Dr Le Bigot. “In particular, we offer preclinical and clinical biomarkers using a range of technologies such as mass spectrometry, ligand binding assays, flow cytometry, microarray analysis and qPCR.”
 
“Finally, we continue to reinforce our organization and have recently hired Olivier Foulon Pharm D, PhD and ERT, as director of toxicology and operations of our French centre. Prior to joining CiToxLAB, Olivier was director of experimental toxicology at Pierre Fabre Laboratories. Olivier also acts as deputy managing director of CiToxLAB-France. It is important that our company can attract such talented senior scientists as Dr Olivier Foulon,” concluded Jean-Francois Le Bigot.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More Than 3,700+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

CiToxLAB Announces the Appointment of Dr. Philippe Ancian as Senior Director
This appointment will allow to drive current and future developments at CiToxLAB’s European and North American sites in the area of preclinical and clinical biomarkers, which is currently experiencing strong growth.
Wednesday, January 14, 2015
CiToxLAB Appoints John C. Kapeghian as Senior Director of Toxicology
This appointment makes the Montreal site attractive to North American clients and boosts CiToxLAB’s expertise in preclinical development and regulatory affairs.
Wednesday, March 19, 2014
CiToxLAB Group Announces a 34 Per Cent Revenue Increase for the First Half of 2012
One year after merger of France-based pre-clinical research organization, CIT, and Canada’s LAB-Research, the new group posts consolidated H1 revenues of EUR 37.2 million (USD 48.4 million).
Thursday, October 04, 2012
CiToxLAB Increases Inhalation Test Capabilities in North America and Europe
Growth in capacity and capabilities sees CiToxLAB emerge as a major player in the safety assessment of pharmaceuticals and chemicals via the inhalation route.
Friday, March 09, 2012
CiToxLAB Appoints Paul C. Barrow as Director of Scientific Projects and Client Consulting
This appointment will increase CiToxLAB’s capabilities in reprotoxicology and juvenile studies.
Thursday, June 30, 2011
Scientific News
The Changing Tides of the In Vitro Diagnostics Market
With the increasing focus in personalized medicine, diagnostics plays a crucial role in patient monitoring.
LaVision BioTec Reports on the Neuro Research on the Human Brain After Trauma
Company reports on the work of Dr Ali Ertürk from the Institute for Stroke and Dementia Research at LMU Munich.
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
Less May Be More in Slowing Cholera Epidemics
Mathematical model shows more cases may be prevented and more lives saved when using one dose of cholera vaccine instead of recommended two doses.
Investigating the Vape
Expert independent review concludes that e-cigarettes have potential to help smokers quit.
NIH Launches Human RSV Study
Study aims to understand infection in healthy adults to aid development of RSV medicines, vaccines.
Researchers Discover Synthesis of a New Nanomaterial
Interdisciplinary team creates biocomposite for first time using physiological conditions.
Poor Survival Rates in Leukemia Linked to Persistent Genetic Mutations
For patients with an often-deadly form of leukemia, new research suggests that lingering cancer-related mutations – detected after initial treatment with chemotherapy – are associated with an increased risk of relapse and poor survival.
Flu Remedies Help Combat E. coli Bacteria
Physiologists from the University of Zurich have now discovered why the intestinal bacterium Escherichia coli (E. coli) multiplies heavily and has an inflammatory effect.
Marijuana Genome Unraveled
A study by Canadian researchers is providing a clearer picture of the evolutionary history and genetic organization of cannabis, a step that could have agricultural, medical and legal implications for this valuable crop.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,700+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!