Strong growth in the US boosts revenue for Boyds

Boyds, the global drug development consultancy, has reported another strong year of growth, with an increase in excess of 20 percent year-on-year in annual revenue in the wake of increased demand for its specialist expertise across the UK, US, and Europe.

Since the opening of Boyds’ US office in Pennsylvania last year, headed by Katy Rudnick, the company has recorded significant growth in US revenue, which now accounts for approximately 30 percent of its total revenue.

Boyds’ global reputation for its work in cutting-edge products including cell and gene therapies has led to a steady increase in the number of companies approaching Boyds for its sector-leading expertise, particularly in the US, where 25 percent of its current client base is located.

Professor Alan Boyd, President and Founder of Boyds, explains: “As a result of a two-year strategic review of the business, Boyds has evolved significantly over the past 12 months, and we are now seeing our investments in the US, our UK and Ireland offices and in our team, really pay off. We have recruited 17 people to the team in the last 12 months, bringing our total global headcount to 34, with more recruitment already underway, including in the US.
“Boyds has worked on multiple new projects involving investigational products for over 28 new clients over the past 12 months, all of which are at the cutting-edge as novel technologies.”
Business in the UK now accounts for around 60 percent of Boyds’ total revenue, with much of the recent growth following on from investment in business development resources and strategies, including the recent appointment of Dr Neil Fish to the new role of Vice President of Business Development.

This year, the company also marks a milestone in the UK as it doubles the footprint of its headquarters, based in Crewe, with a full refurbishment.

“Boyds’ primary purpose in helping our clients to develop new medicines for patient benefit remains central to our work, and the Irish office that opened in 2019 represents our gateway to Europe and supports our close work with the European Medicines Agency.” explains Alan.

“We relocated Boyds Ireland to Dublin’s Talent Garden last year, when medical device expert, Eamonn McGowran, joined the team. Since then, the volume of work for companies across Europe has reached record levels, with 10 percent of revenue coming from the EU, and more growth on the cards.
“Our aim is to continue building on our existing growth in the UK, Europe and the US, and help support more clients translate their innovative ideas into medicinal products and treatments for patient benefit. The next stage of our expansion strategy will involve adding more specialists to the US team to enable us to extend our range of services across programme management and regulatory affairs directly from the US.”
“Our people are very much key to our success,” he adds, “and we will continue to invest in attracting and retaining highly qualified staff to support our clients. At the end of the day, everything we do is for the benefit of patients and human health, and this remains at the heart of what Boyds stands for.”

Boyds is product development consultancy, providing a range of expertise and skills central to the development of pharmaceutical and biotechnology medicinal products and medical devices.

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Sue Carr