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Quantum Pharma net debt reduced

Quantum Pharma posted financial results for the first half 2017 with revenue increased by 13% to £36.2M mostly from growth from the Niche Pharmaceuticals division.

Niche transformed, contributing 28% of Group adjusted EBITDA at £1.8m. The company said that adjusted EBITDA increased 23% to £5.7M.

The company’s operating profit increased 74% to £3.6m, and the net debt reduced to £11.9m.

Chris Rigg, CEO of Quantum, said he was pleased with the progress the company has made in the period, and its momentum into the second half of the period.

“The benefits of our simplification strategy are clear to see in a strong set of results that demonstrate the substantial increase in the profitability of our business. The next steps of our strategic plan are underway with a focus on delivering the current pipeline, maximising the value in our licensed product portfolio and exploiting international opportunities. I am confident in the future prospects of the Group,” he said.

 

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