Financial year 15/16 Statement by the Managing Director
PBL has had a very successful first year of operation, meeting all of its targets and investing significantly in both staff and facilities; turnover for the year was £35.7m, generating a post-tax profit of £5.2m (the full financial statements can be viewed on the Companies House website).
The corporate structure of the company has been secured by the appointment of an effective board and executive team, as well as ensuring that we have in place all the necessary statutory articles and licenses.
We have supported our customers by ensuring that we have delivered our commitments both in terms of products and scientific milestones, and by making sure that we have maintained our products in the marketplace.
Our staff are the key to our success and to help and support them we have developed our HR systems, policies and procedures and a recruitment process which allows the company to rapidly employ top quality staff with the expertise required to build on our strengths. We have implemented a company pension scheme for new starters and will be rolling out a staff development and training programme in conjunction with workforce planning and staff reward systems. More than that we want to grow by investing in people, so we have initiated various internal training programmes, including several NVQ awards and are investing in the future of science by supporting University sandwich students. We have also had our first PhD awarded and have registered another member of staff for a second one.
It has also been a constructive year in terms of new facilities and investment in upgrading others. In November we opened a new extension to our pharmaceutical stores and then in February we were delighted to host the Minister for Life Sciences, our local MP and county councillors to open our filling and freeze-dry facilities. Looking to the future there is an ongoing programme of capital investment and we will be announcing various projects throughout 2016.
PBL continues to develop a recombinant intranasal anthrax vaccine and has demonstrated efficacy in pre-clinical studies. In August we received NIAID commitment on an option for $1M of further funding to develop the programme.
In December we announced that we were working to support Ohara Pharmaceutical Co., Ltd who had submitted a New Drug Application for Erwinase® in Japan, and followed on from PBL gaining accreditation in the category of “foreign drug manufacture” from the Japanese Ministry of Health, Labour and Welfare.
We are also cementing our links with the wider community and as we grow and develop our business we want to offer exciting employment opportunities both for the local area and within the biopharmaceutical sector.