An advanced pharmaceutical manufacturing company is betting big on a new drug.
The maker of the popular drug clomiphene citrate (CCl) is taking a risk that could ultimately pay off.
In the coming years, the company said it will make a number of drugs to treat heart and liver diseases.
But it also is betting that pharmaceutical manufacturing will become increasingly relevant to its business as it attempts to scale up and make more drug products.
The news comes as the company also is taking on a bigger role in drug development.
The company announced last month that it has developed a new gene therapy to treat diabetes.
But the new gene has not yet been licensed to pharmaceutical companies.
“We believe in the importance of the biopharmaceutical revolution, which is the basis for many of our industry’s most valuable innovations,” CEO Jeffrey Schaffer said in a statement.
“We’re excited to see what the future holds for this exciting new frontier.”
While it will take time for the company to make its new gene treatment, its stock is up nearly 50% since its last earnings call in October.
It is also one of the top 10 companies in the world on Wall Street, according to Morningstar.
The company is also in talks to license the gene therapy, which it is using to develop the drug clompiphene, and is looking to scale it up as it works to develop a new treatment for a more serious form of diabetes.
The stock is also up more than 20% since the last earnings report.
The stock has gained about 50% over the last year.
“Our strategy is to create a strong company and grow it by investing in the most critical areas,” Schaffer added.
“As the company has grown, we’ve seen a steady increase in our revenues and profit margins.
The continued growth of this business will provide us with the flexibility to continue to expand our business, while continuing to invest in new product development.”
In its earnings call, the firm said its net income grew 22% in the first quarter of 2018 compared with a year earlier.
It said revenue grew 13% to $9.5 billion.