Pharma company hVivo reports 52% rise in revenues

Pharmaceutical services firm hVivo, formerly Open Orphan, saw revenues jump by 52pc in the first half of the year.

The Dublin-listed pharmaceutical services company founded by businessman Cathal Friel, has said it expects to deliver double-digit topline growth for the first six months of the year, as well as a strong increase in profit margins.

In a trading up to investors on Wednesday, the Dublin-headquartered company said it expects to generate revenues of £27.3 million (€32 million) for the first six months of 2023.

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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