Peakdale Reports Significant Growth in Demand for its Medicinal Chemistry Services
News Jun 21, 2014
Peakdale Molecular is celebrating its most successful year ever for revenues and earnings since the company’s inception in 1992. Offering specialized chemistry services for early phase drug and diagnostics discovery, Peakdale has experienced a significant increase in demand from pharma R&D operations in particular.
Following long-term investment in facilities and expertise, together with a strategic evolution of its offering, the company has been awarded multiple contracts over the past 12 months, from new and returning customers.
As R&D cost pressures increase, many pharma companies are restructuring their R&D operations to accommodate a greater emphasis on outsourcing, notably in the specialized chemistry space.
Having built up a highly qualified team of over 100 organic chemists across two major facilities, Peakdale has been well placed to respond to this demand, providing a range of drug discovery services with a focus on delivering skilled, innovative solutions.
The company has expanded in both research chemistry services, in which Peakdale provides chemists and facilities on a Full-Time Equivalent basis, and increasingly in custom synthesis work on a Fee-for-Service basis.
In particular, the ongoing development of Peakdale’s service offering for biological sciences, such as ADME Tox services, has seen increasing traction and has successfully enabled Peakdale to support a wider group of both pharma and biotech clients.
Dr Ray Fisher, CEO at Peakdale Molecular, commented: “Peakdale’s extensive industry knowledge and strong commitment to providing high quality, flexible and customer-orientated services, ensures we can provide true problem-solving capabilities for the challenges encountered in R&D. So when our customers outsource their R&D chemistry to us, they know that we won’t just do the work, we’ll add significant value to their drug discovery process. Over the last year this has been borne out by a pick-up in business from both new and returning customers.”
Together with significant growth in its traditional market in the UK and mainland Europe, Peakdale has seen made good progress in the US which the company anticipates will be a source of major growth for the company in the present fiscal year.