Patheon Reports Growth Across All Segments For Fourth Quarter; Provides Outlook For Fiscal Year 2017
DURHAM, N.C.--(BUSINESS WIRE)--Patheon N.V. (NYSE:PTHN), a leading global provider of pharmaceutical development and manufacturing services, today reported financial results for the fourth quarter and fiscal year ended October 31, 2016.
Fourth quarter 2016 revenue was $510 million, an increase of 10% compared to the fourth quarter of 2015. The increase in the company’s financial performance was driven by year-over-year growth in all three business segments despite temporary closings at three sites due to weather and power outages.
“The overall business performed well with continued strong momentum in the fourth quarter and for the year overall, securing record contract wins in 2016. We are increasingly engaging with customers at a more strategic level to provide one of the industry’s broadest, scalable solutions from development through commercial manufacturing to help them simplify and optimize supply chain needs,” said Patheon CEO Jim Mullen.
Fourth quarter 2016 revenue was $510 million, an increase of 10% compared to the fourth quarter of 2015. The increase in the company’s financial performance was driven by year-over-year growth in all three business segments despite temporary closings at three sites due to weather and power outages.
“The overall business performed well with continued strong momentum in the fourth quarter and for the year overall, securing record contract wins in 2016. We are increasingly engaging with customers at a more strategic level to provide one of the industry’s broadest, scalable solutions from development through commercial manufacturing to help them simplify and optimize supply chain needs,” said Patheon CEO Jim Mullen.