Hvivo reports 44% Rise in earnings and Record Year in 2023

Pharmaceutical services firm Hvivo, formerly Open Orphan, reported a 44pc rise in earnings in 2023 in a “record year across all financial and operational metrics.”

Earnings before interest, taxes, depreciation and amortisation (Ebitda) increased to £13m (€15.2m) from £9m (€10.5m) a year earlier.

The Dublin and London-listed organisation also recorded a rise in revenues last year. Revenue was up 16pc across the year to £56m, while the group had cash of £37m at the end of 2023, up from £28.4m.

hVIVO plc (formerly Open Orphan plc), led by Cathal Friel, 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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