hVIVO raises 2023 revenue view on demand for respiratory therapy testings

hVIVO plc (HVO) on Tuesday raised its 2023 revenue forecast after the healthcare company reported a 52% jump in sales in the first half as demand for testing of infectious and respiratory disease therapies increased.

Drugmakers are in a race to develop vaccines and drugs to treat respiratory diseases caused by respiratory syncytial virus and COVID-19, resulting in increased demand for clinical testing of the products.

The contract research organisation now expects its annual revenue to be 55 million pounds ($68.8 million), compared with 53 million pounds it previously expected.

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.

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