Growing in challenging times

Date	Tuesday 9th February 2010
Time	6pm - 7.30pm
Venue	Northern Ireland Science Park, Queens Island, Belfast, BT3 9DT
Presented by	Mark Wallace, Client Services Manager, Almac Pharma Services

The pharmaceutical industry has experienced considerable change in the last decade. It is widely accepted that the era of the blockbuster drug has gone. Manufacturers, including the outsourcing sector, in which the Craigavon-based Almac group operates, faces increased competition from low-cost countries. The economic downturn has also led to a reduction in the availability of capital to support R&D. Governments, including the UK and US, are committed to lowering healthcare costs and the growing substitution of generic products, for their branded alternatives, continues to put pressure on Pharma companies’ margins.

The Almac Group employs over 2,500 people across its UK and US-based operations. Almac’s services and project management extend from drug discovery through all areas of clinical trials, to the commercialisation of pharmaceutical products. Since its formation, the group has seen consistent growth, in both revenue and headcount.

This presentation will focus on the challenges Almac has faced , how the necessary changes have been managed and what they believe are the factors that allow the group to continue to grow.

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