Pharmaceutical and biotechnology company Encorium Group, Inc. (Nasdaq: ENCO) said on Thursday that it received a number of new contracts, with an aggregate value of $4.7 billion.
The contracts consist of clinical trial development support for more than 20 clients and range across a variety of services, including oncology, cardiovascular, central nervous system (CNS), and biologics/vaccines, Encorium announced. Its European division signed the deals, the company said.
They reflect the intrinsic value of Encoriumâ€™s large geographic footprint in Europe and Scandinavia, said Kenneth M. Borow , President and CEO for Encorium Group. As such, they are strongly supportive of our efforts to continue to build a highly competitive company that provides quality consulting and clinical operational services around the world.
Encorium reiterated an outlook for revenue of $7.9 million to $8.3 million in the first quarter.
Shares rose by 31 cents, or 9.2 percent on the Nasdaq Stock Market in mid-Thursday trading.