Strategy working for drugs firm
Collagen expects 30% rise in half-year income
Collagen Solutions, the Glasgow-based stem cell company, expects revenue to rise by 30% to £1.9 million for the half year.
It said that it was benefiting from the new strategy implemented by Jamal Rushdy who joined as CEO in May.
This included specific strategic initiatives focused on building core business scalability and advancing the R&D pipeline.
Regarding the progress of these initiatives, Mr Rushdy said: “We completed hiring and training the additional direct sales channel personnel, in line with our strategy, with commercial managers now based in the USA, Korea, and UK, resulting in a more active pipeline of business within North America, Asia Pacific, and EMEA respectively.
“In addition, our OEM process improvements have been implemented, resulting in improved customer bid throughput.
“Finally, we have made progress on multiple fronts within R&D.”