Croda has underlined its confidence in the future growth of its innovative drug delivery systems into the human body beyond the huge uptick delivered by Covid wins.
Opportunities in the pharmaceutical market have been highlighted to investors when it comes to the administration of complex biologic drugs.
The East Yorkshire-headquartered FTSE-listed firm is expanding production capacity at home and abroad, with support from the UK and US governments, as revealed earlier this year.
Croda is enhancing its existing facility at Leek in Staffordshire in a £31 million investment, having also committed £47 million of a £108 million spend into a new multi-purpose site in Lamar, Pennsylvania.
Steve Foots, group chief executive, said: “Over the last 20 years, we have been steadily growing and investing in our Health Care business, accelerating this progress with the acquisitions of vaccine adjuvant and lipid system technologies. Today we are focused on robust, high growth and high value markets, uniquely positioned as the leading innovator of delivery systems for complex biologic drugs and vaccines. It is an exciting part of Croda with significant opportunities to drive future growth."
The seminar heard how recent strong organic growth will be supplemented “by an exciting innovation pipeline” which is expected to commercialise from 2025.
Croda, a £1.9 billion turnover operation, based at Cowick Hall in Snaith, provided the lipid system for the Pfizer vaccine.
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