Radiopharmaceutical producer Cyclopharm has reported record sales revenue of $15.3 million for the first half of the 2023 fiscal year, marking a 39% increase compared to the previous corresponding period. Sales of its Technegas product remained steady, while third-party distribution sales saw a significant boost of 116%, reaching $7.7 million. This is the first time that third-party sales have exceeded the company's own sales. Cyclopharm's Managing Director, James McBrayer, attributes the strong performance to the company's global sales and service infrastructure. Cyclopharm is also making progress towards obtaining approval from the US Food and Drug Administration to market Technegas in the United States, with the approval date set for September 29, 2023. The company has a cash reserve of $187.9 million, providing a solid financial position for launching Technegas in the US market.
Mon, 17 Jul 2023 16:22:32 GMT | @AuManufacturing