TAKE Solutions, a globally recognized domain intensive services provider in life sciences, is expecting 20% year on year (YoY) growth for the next three years. The company is also on track to be a US$ 500 million enterprise by 2021.

The company posted quarterly revenue of Rs. 5,827.4 million for the first quarter ended June 30, 2019, registering a growth of 9.1% compared to the previous quarter.

The company reported earnings before interest, tax, depreciation and amortization (EBITDA) for Q1FY'20 which stood at Rs. 1,103.7 million, as against Rs. 830.2 million after considering all one-time expenses in the previous quarter.

Commenting on the Q1 results, Srinivasan H R, vice chairman and managing director said, "We have had a positive quarter, delivering growth with healthy margins. We are currently moving towards 100% in the life sciences business reporting at 94% for Q1FY'20.”

“The post-merger integration for both acquisitions - DataCeutics and KAI Research are on track and progressing as per plan. We have had significant revenue growth within a short time of three months. Our offshoring model is slated to be operational by Q3 FY'20 and we can also see an increase in Request for Proposal (RFP) participation in the US market," added Srinivasan.

Srinivasan further stated, “As a life sciences company actively engaged in research and development, we have been reclassified under the pharmaceuticals industry on both the BSE and NSE. The company sustained its growth in revenues and profits on account of the business strengthening initiatives of the earlier years that has now come to fruition.”

For the current quarter, the company's key brand Navitas Life Sciences was recognized as a major contender within three years of launching as a full-service Clinical Research Organization (CRO) by Everest Group PEAK Matrix Assessment 2019. The company also recently appointed Dr Steve Galen as the global head of clinical at Navitas Life Sciences.

TAKE Solution delivers domain-intensive services in life sciences and supply chain management. Its range of services span from clinical trials to regulatory submissions to post-marketing safety backed by insights derived through proprietary industry networks forums.



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