Continued Momentum Results in 131.4% Increase in Revenue and Positive
EBITDA for Three Consecutive Quarters
PRINCETON, N.J., April 1 /PRNewswire/ -- Laureate Pharma, Inc., a full- service biopharmaceutical development and protein production company, today announced record growth in revenues for 2007. The company posted a 131.4% increase over the same period last year and generated positive EBITDA for the third consecutive quarter. Laureate achieved other milestones in 2007, including a commissioned new Pilot Plant, an expanded facility that includes a new warehouse, a 30% increase in the company's workforce, a new strategic alliance, and the election of a new non-executive Chairman. In addition, the company signed major biopharmaceutical development and manufacturing agreements and several fill/finish agreements. Collectively, these factors position the company for continued growth and momentum for 2008 and beyond.
"We continue to see strong growth in our client base and increasing demand for contract manufacturing services," said Robert Broeze, President and Chief Executive Officer at Laureate Pharma. "Laureate Pharma has superior bioprocessing capabilities specifically focused on monoclonal antibodies and recombinant proteins expressed in mammalian cells. We help our clients get the most out of their biopharmaceutical development programs by enabling them to capitalize on our expertise and experience in the areas of biopharmaceutical development and production. This inevitably helps them to get their new products into the clinic faster. We are excited about our continued business momentum and are extremely pleased with Laureate's overall performance in 2007. We are on track for another record year in 2008."
"Laureate Pharma grew their revenue 131.4% year-over-ye
|SOURCE Laureate Pharma, Inc.|
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