Revenues rocket at Quantum Pharma following major capital investments

Profits and revenues have rocketed at North East medical manufacturer Quantum Pharma on the back of major investments.

The Burnopfield-based business manufactures and supplies unlicensed medicines including everything from liquid preparations, tablets, creams, ointments, lotions and gels to ear drops, nasal drops, capsules, enemas and oral syringes. Since 2021 it has been a subsidiary of the Target Healthcare Group, which acquired it from Clinigen Group in a multimillion-pound deal.

Accounts for 2023 show revenues rose by 47% to £174.8m, while operating profit increased by 140% from £7.08m to £16.99m. The business has two bases, at Burnopfield and Follingsby, and its employee numbers increased by 58 to 276 workers during the year. At the year end total equity stood at £15.4m, up from £4.7m, and ordinary dividends were paid out amounting to £2.35m.

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