Abcam making big progress in China

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11/01/2017

Life sciences giant Abcam expects to report strong growth in the Chinese market when it delivers its interim results.

A trading update from the Science Park firm, which provides research tools for the biotech industry, said it is anticipating revenue growth of 10% on a constant currency basis for the six months to December 2016.

 The update states: "Our business in China continues to deliver and we expect revenue growth of 29.4%, well ahead of the market growth rate in the territory."

The company added that investments in R&D, organisation, systems, and facilities all continue according to plan, and that underlying gross margins remain in line with expectations.

Alan Hirzel, Abcam CEO, said: "We have maintained revenue momentum delivering more than twice market revenue growth in the period. Our award winning website, unique products and fast service enable Abcam to better serve researchers to achieve their mission faster. Overall, we continue to make good progress against our strategic and investment objectives and continue to see growth opportunities for Abcam.”


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