Pharm-Olam Growth at Record Pace in 2007
Thursday, January 24, 2008
Houston-based contract research organization (CRO) Pharm-Olam International reported record revenue growth in 2007, signing $100 million in new contracts signed in the 12 months.
According to Iain Gordon, vice president of global business development at Pharm-Olam, the company saw increased demand for its data management and biostatistics services. He attributed much of company’s revenue growth to that demand.
The company also reported record geographic coverage and services additions. It established regional offices in Princeton, N.J. and Novosibirsk, Russia in 2007.
“Our global coverage continues to grow, however, our decentralized business model remains the same, allowing us to start studies quickly and manage them efficiently”, said Gordon.
In the past three years, the company has been expanding its international presence at a rapid pace. It has more than 20 offices in 40 countries across North America, Western Europe, Central and Eastern Europe, Latin America, Asia, and Africa. In June, Pharm-Olam announced plans to expand its Latin American presence by opening offices in São Paulo, Brazil and Buenos Aires, Argentina. The company also has a presence in Mexico City.
In August 2006, the company expanded its India operations and tripled its staff there. In late 2006, it opened a new office in Pretoria, South Africa.