Laureate's 2nd-qtr revenue surges 178%

New Jersey, USA-based Laureate Pharma, a full-service biopharmaceutical development and protein production company, has reported record-breaking results for the three months ended June 30, 2007, posting a 178% increase in turnover over the same period last year, due to higher income for process development and manufacturing services and aseptic filling.

Additional achievements during the first half of the year include: renewing and extending the lease of its Princeton facility to the year 2016, with options to extend through the year 2026; commissioning a new pilot plant to accelerate non-current Good Manufacturing Practices production projects; entering into a preferred partnership agreement with Boehringer Ingelheim and electing a non-executive chairman for its board of directors. As part of its growth strategy, Laureate is continuing with the expansion of its workforce, hiring its 100th employee and expanding the capacity in its GMP production facility located in Princeton, NJ.