Hvivo, the pharmaceutical services company formerly known as Open Orphan, has reported a jump in trading revenues in the first half of the year compared with the same period last year and a widening of its earnings margins amid “continued growth in demand” for its human challenge trials.
In a trading update on Wednesday, the group said it expects to report half-year revenues of £27.3 million (€31.8 million), a 52 per cent year-on-year increase.
The Dublin and London-listed company said growth in its contracted order book of 11 per cent – from £70 million in the first half of 2022 to £72 million – underlined the appetite for its drug trials from the global biopharma industry. Hvivo also noted that the contract value sizes had continued to grow over the period.
hVIVO plc (formerly Open Orphan plc) is a rapidly growing specialist contract research organisation (CRO) and the world leader in testing infectious and respiratory disease vaccines and antivirals using human challenge clinical trials, providing end-to-end early clinical development services for its broad and long-standing client base of biopharma companies.