Open Orphan reiterates £50m profit guidance

Dublin and London-listed pharmaceutical company Open Orphan announced on Thursday that it will rename itself Hvivo from next month.

The rare and orphan drug consulting services platform also reported results for the first half of the year, revealing that revenues declined 18 per cent between January and June to £18.9 million (€21.7 million) from £23.2 million (€26.7 million) from the same period last year.

However, the company reiterated its £50 million (€57.5 million) profit guidance for 2021, underpinned by robust trading in July and August.

Open Orphan (LON:ORPH) was founded in 2017, with the goal of rapidly building Europe’s leading pharma services company by a management team with extensive industry and financial expertise. The company comprises of two commercial specialist CRO services businesses (Venn Life Sciences and hVIVO) and is also developing a genomics data platform business (Genomic Health Data). 

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