Premier capitalising on global outsourcing

Published: 1-Dec-2004

Premier Research Group has said it will float on the Alternative Investments Market (AIM) to raise


Premier Research Group has said it will float on the Alternative Investments Market (AIM) to raise £7m in new money.

A contract research organisation which specialises in three therapeutic areas, oncology, CNS (central nervous system) and anti-infectives, Premier covers 15 countries, including Europe and the US. Currently the company has in excess of 50 active contracts with at least 40 different customers and outstanding contracted orders of more than £20m.

The company operates in the later stage Phase II - Phase IV segment of the CRO market, which is forecast to grow from US$4.1bn in 2004 to $6.1bn in 2007. There are two contributory factors to this growth; first, the forecast growth of global biotechnology and pharmaceutical development expenditure from $42.7bn in 2002 to $76.4bn in 2007; and second, the expected increase in the penetration of outsourcing from 20.7% in 2002 to 22.8% in 2007.

Dr Simon Yaxley, ceo of Premier Research Group said: 'The AIM flotation will provide funds to strengthen the balance sheet and increase our profile within the industry.'

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