KYMOS acquires Italian firm Pharmaprogress

KYMOS acquires Italian firm Pharmaprogress
KYMOS acquires Italian firm Pharmaprogress
The company, founded in 2001, has accelerated its international expansion plan. With this purchase, 50% of its business volume will be generated outside of Spain.
Kymos in the Press
Pharmaprogress, located in the city of Ancona, specialises in contract research and analysis services and expects to post turnover of €1 million in 2017.
CRO KYMOS Pharma Services has closed a deal to acquire Italian firm Pharmaprogress, located in Ancona (in the Marche region of Italy) with a 700-m² analysis laboratory, staff of 10 and estimated turnover of €1 million for 2017. This acquisition helps KYMOS make Italy its main foreign market, followed closely by France, and to speed up the expansion plans KYMOS began five years ago to consolidate its place as an important CRO in the European market. The acquisition of Pharmaprogress is important because the national and foreign pharmaceutical industry is highly present in Italy, with great potential for outsourcing in order to provide current Pharmaprogress clients a wider range of services, particularly in the field of biotechnology products, as well as greater capacity for project management. KYMOS Pharma Services puts its exports at nearly 50% of all turnover and expects to see €7 million in sales in 2016, with EBITDA at 20%.
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Pharmaprogress was founded in 2001 by a former executive in the Angellini group, Dr. Depalmo Galli, who continues to collaborate with the company.
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Pharmaprogress has GMP authorisation from the Italian Medicines Agency and is very well positioned among top pharmaceutical companies in the country.
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KYMOS’s main markets today are Italy, France, Switzerland, Germany and Portugal, as well as other countries worldwide.
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