A trio of Scotland’s most innovative and dynamic businesses have been named in a new ranking of the UK’s fastest-growing privately-owned pharmaceuticals companies.
The ranking, compiled by Alantra, the global investment banking and asset management firm, is based on the revenue growth achieved by privately-owned pharmaceuticals businesses in each of the past two years. The benchmark underlines the remarkable strength and depth of the UK’s pharmaceuticals sector, including a diverse range of privately-owned businesses that consistently deliver outstanding growth.
The leading Scotland-based business in the ranking is the clinical research group Clintec International. Based in Glasgow, Clintec has delivered annual sales growth averaging 55% a year over the past two years, and this track record saw it ranked as the second fastest-growing privately-owned pharmaceuticals business in the whole of the UK. This growth has not gone unnoticed, with IQVIA acquiring Clintec after this year’s listing was compiled.
Other leading businesses in the region posting rapid sales increases include Munro Healthcare, which is also based in Glasgow, with average annual sales growth over the past two years of 40%. In addition, Edinburgh-based Raimes, Clark & Company has achieved average annual sales growth of 11% over the past two years.
Tom Cowap, a Director in Alantra’s UK advisory business, said: “Despite some challenging headwinds, including the spectre of Brexit now looming large, Britain’s privately-owned pharma businesses have delivered remarkable growth in recent years – these firms include some of Scotland’s most dynamic growth companies.”
He added: “Leveraging their intellectual property, global market leadership and their passion for innovation, these businesses are well-placed to continue flourishing.”
To qualify for inclusion to the Alantra Pharma Fast 50, companies must have achieved annual revenues of £2m or above in the first year of assessment, and to have filed three years of accounts at Companies House. These accounts should show two successive years of revenue growth. They must also be registered in the UK as private, independent and unquoted companies.