Science and business work in tandem to develop solid products for the mass market. Science, however, dictates following a standard set of principles so a standard repeatable product or result can be obtained. Standardizing this scientific method is a skill that is specialized and profitable as such. Companies that can offer this scientific skill set are companies that will likely become profitable as others recognize their value and need for its services.
Pacific Biometrics Inc., a clinical trial research services company, works to provide clinical trial, central library and contract research services to biotechnology and pharmaceutical companies. The company works in a variety of areas where protocols and central library services are needed for diabetes, cardiovascular disease, metabolic syndrome and other products research.
The pharmaceutical industry rises and falls based upon its pipeline of new drugs and research. Without a constant stream of new products to be put under patent, the multi-billion pharmaceutical industry would stall out and go stagnant. Although some might hail this as an improvement to society, most would agree that a vast majority of people would suffer unnecessarily. Keeping this pipeline filled, however, requires solid methodologies to ensure pharmaceutical products are safe and meet government mandated guidelines. Pacific Biometrics is one of the companies involved in this process.
In its second quarter 2009, the company has begun to hit its stride posting a 96% increase in income to $3.2 million. Ultimately, this result has enabled the company to repay its remaining obligations to its Laurus Master Note and become debt free, past some small equipment leases.
For the most part, this solid second quarter result stems from increases in the clinical trials portion of the company’s services. Although by nature the market for clinical trial services is somewhat uncertain, the company has developed a certain backlog of projects for the remainder of 2009. This, along with larger pharmaceutical companies working to replenish their product pipelines, will enable Pacific Biometrics to capitalize on its current clinical trials successes and find solid profit for the foreseeable future.
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