Richmond Pharmacology reached £100 million in cumulative sales in 2013

Richmond Pharmacology has received approval for 10% of all phase I clinical trials conducted in the UK, expanding its market share significantly in 2013.

Dr Jorg Taubel, CEO of Richmond Pharmacology said: "We are proud of the many complex clinical trial studies that we have been awarded over the last year. We would like to thank all of our sponsors for the tremendous support as well as positive feedback we received from them. We have an excellent team of clinical colleagues who have made it possible for us to conduct trials with volunteers both successfully and safely."

Richmond achieved cumulative sales in excess of £100 million in last year's annual accounts, demonstrating growth in its business for the second consecutive year.

An organisation owned and managed by medical doctors, its main clinical facilities have been based at Croydon University Hospital since 2005. Richmond has contributed a significant part of its earnings (7–10%) to its hosting organisations, as well as funding the design, conduct and publication of original clinical research.

Dr Taubel added: "We also want to thank our hosting organisations Croydon University Hospital (NHS Trust) and St Georges University for their continued support and successful collaboration on many of our studies. We are committed to promoting innovation in new medicines and research methodologies and hope that our work can continue to be a benefit to our local communities."

Founded in 2001, Richmond has conducted over 250 clinical trials across important disease areas such as neurology, cardiology, oncology, diabetes, pain and multiple sclerosis. Dr Taubel noted: "With a sustainable pipeline of exciting studies going forward we would love to hear from potential sponsors and future collaborators in universities and the pharmaceutical industry."