The fastest growing firm in the UK is right here!
PHARMA SALES TOP £60m
SALES at a pharmaceutical business based in Burton have multiplied to more than £60 million per year, making it the fastest-growing business in the country.
Midwinter Solutions topped the Sunday Times Virgin Atlantic Fast Track 100 league table, published on Sunday, after tripling its sales on average every year for the past three years, recording an average annual increase of 233.29 percent.
The Fast Track 100 league table ranks the top companies nationwide in terms of their average annual sales rise over the previous three years.
The Burton company, which employs 20 people, was established in 2013 after founders Mark Waters and Ben Everington spotted a gap in the market for a specialist business sourcing drugs for testing at clinical trials.
Mr Waters, who chairs the company, said: “The phones have been hectic over the weekend and we’ve received lots of nice compliments.
“Whilst we are always looking to the future, it’s important to stop and recognise what we have achieved.
“It’s a proud moment for all of us at Midwinter and it’s great for the area.
“We want to acknowledge and to thank our team and our clients for their support and for making this possible.”
The company works with worldwide pharmaceutical manufacturers to ensure the right drugs arrive safely and on time, wherever in the world the clinical trials are taking place.
The firm’s sales rocketed to £61.8m in the year ending February 2018, generating profits of £10.7m.
It sold more than 250,000 packs of medicine that year, and now ships over five million vials, syringes and tablets annually.
Mr Waters and Mr Everington started out the company by working on small trials before being joined by their former colleagues, Tony Phillips and Tim Morgan. All four previously worked for Burton-based pharmaceutical services firm Clinigen, which topped the Fast Track 100 list in 2011.
Mr Waters said the company name was inspired by the chilly conditions of their working environment – as drugs have to be stored at temperatures between 2C and 8C.
And while many UK businesses are quivering at the prospect of Britain leaving the EU next March, Midwinter Solutions could actually benefit from Brexit, given its expertise in securing safe, speedy passage for drugs across borders.
But with analysts predicting the drug trials market will grow to $65bn (roughly £51bn) by 2025, the company’s successes look set to continue whatever Brexit brings.