Synexus announces big increase in turnover and move into profitability

June 6th 2003. Synexus, the Lancashire based Site Management Organisation (SMO), today announced an increase in turnover of 23% at £6.2m ($10.1m) for the financial year ended 31 March 2003. At the same time the company revealed a small operating profit, compared with an operating loss of £600,000 ($972,000) in 2002. 

Commenting on the results, Managing Director, Dr Paul Evans, said “We are delighted with these results which have come at a time when the pharmaceutical industry has been having a difficult time pulling new drugs through its development pipeline. We are seeing the toughest market conditions in a decade, but the ability of the Synexus Clinical Research Centres to speed up clinical trials through efficient patient recruitment is increasingly being recognised ”. 

Synexus started the year operating 9 Clinical Research Centres, but added a further one, the first for two years, in November 2002. Said Evans “The new Centre was profitable within 3 months of opening and we are currently looking at two further potential Centres”. 

The company remains concerned about the level of R&D activity in the pharmaceutical sector, but is upbeat about its own prospects for the current year. This optimism is based on its pro-active approach to identifying patients for clinical trials and a number of major new contracts in diseases such as obesity, arthritis, diabetes and prostate cancer prevention. Medical Director, Dr Ian Smith, commented that “it was particularly pleasing to see that a number of customers had the confidence to place the whole of a patient recruitment programme with Synexus”. 

The company also revealed that its level of new orders signed in the year was over 50 ahead of the previous year at £9.5m ($15.4m). 
- ENDS - 
 
19 May 2003

PRESS CONTACT
Dr G Paul Evans Managing Director
Synexus Limited
Sandringham House
Ackhurst Park
Chorley
Lancashire PR7 1NY
 
Tel +44 (0)1257 230723 Fax +44 (0)1257 231981 Email paul.evans@synexus.com 
Web www.synexus.com  

Information for Editors 
Synexus Limited is the largest patient recruitment organisation in Europe, carrying out clinical trials for sponsors direct and through CROs. It is a Site Management Organisation (SMO) with a difference – it has its own ten dedicated investigator sites in the UK (known as Clinical Research Centres), all staffed with full-time, GCP-trained Synexus employees.  It has undertaken clinical trials in a wide range of diseases including osteoporosis, arthritis, the menopause, migraine, irritable bowel syndrome, cholesterol lowering, angina, diabetes and hypertension. Synexus employs approximately 120 staff and has it headquarters in Chorley, Lancashire. The company is currently working on around 40 developmental compounds on behalf of clients that include 18 of the top 20 pharmaceutical companies in the world.