Japan's leading CRO ups half-year sales 22.4%

CMIC, a leading Tokyo, Japan-based contract research organization, has forecast a its 13th year of continuous sales growth since its establishment in 1993, based on its financial results for the half-year ended on March 31, 2007.

During the period, CMIC's sales, ordinary and net profits increased 22.4%, 30.6% and 83.2% to 10.74 billion yen ($88.1 million), 1.14 billion yen and 705.0 million yen, compared to the same six months a year ago, respectively. Since the Japanese Pharmaceutical Affairs Law which stipulated new Good Clinical Practice and formally positioned CRO businesses in Japan in 1997, the company has grown steadily.

Main drivers for such consistent growth include good performances in CMIC's core CRO business with expansion of the market in general, an addition of a contract manufacturing organization unit in September 2006 after SS Pharmaceutical sold its plant to CMIC, and continuing good performances in its contract sales organization. Breaking down its total turnover, CMIC's CRO, CMO and CSO businesses accounted for 76.7%, 11.8% and 11.5% of the total, respectively.