How does TriRx Pharmaceuticals serve the life sciences industry?

TriRx is a global contract development and manufacturing organization with a presence in North America and Europe, serving all major markets. We have a customer base of more than 50 international customers that continues to grow every month. We serve the animal and human health sectors for both small and large molecules and offer comprehensive services that encompass late-stage development, technical services, primary and secondary commercial manufacturing of several dosage forms, as well as biotech API production. TriRx provides end-to-end product lifecycle support to our customers for both marketed products and products in clinical development that improve or extend patients' lives and well-being. Animal health is a promising yet underdeveloped and fragmented marketplace with significant potential for high-value creation and we are helping them by providing professional capabilities and a platform of performance that has historically been reserved for the human health market.

Could you expand on the decision-making process behind expanding in the UK and France?

The pharmaceutical industry is undergoing significant change, particularly in the rationalization of internal supply capability and supplier consolidation. As a result, our strategy is to meet the growing demand by offering various capabilities and dosage forms in major markets and to create a company that encompasses an integrated development, manufacturing, and supply service. Our expansion into Europe is to cater to major markets there, as well as North America and other locations where our clients operate. Meanwhile, the Asian and Latin American markets hold enormous potential for growth due to their large populations. Thus, these areas will become increasingly significant for us in terms of future business.

How can CDMOs navigate through the supply chain, dosage, and shortcomings challenges?

The pharmaceutical industry has faced several challenges, including the pandemic and the conflict in Ukraine. Like all markets, it follows a sinusoidal curve, and there will always be upsides and downsides. Navigating and operating through these cycles is crucial to survival. Companies have experienced pressure due to recessions, inflation, and supply chain issues. However, it is important to note that long-term demand remains strong and growing, particularly in the animal health space and the production of animals for food, as well as companion animals. Additionally, the aging population worldwide requires more medicines for treatment and prevention. Although the economy faces significant pressure, the marketplace's demand and customers' needs will help alleviate these challenges over time.

Moving forward, CDMOs will need to focus on supply chain security, resulting in reshoring not only in the US but also in all markets. The primary objective will be to have products available when necessary, without constraints and restrictions imposed by the marketplace, which may lead to product shortages.

What is next in terms of funding outlook and opportunities for CDMOs?

Opportunities for investment in the pharmaceutical industry are closely tied to growth, value creation, and market efficiency in reducing the overall cost of care. By focusing on prevention and early intervention, the industry can provide the most effective cost-reducing measures. As a result, there will always be opportunities for investment in the pharmaceutical space due to its crucial role in the overall prevention, early intervention, and treatment paradigm. The appropriate intervention at a reasonable and efficient cost will be a huge value-creation opportunity.

What is going to be the growth strategy for TriRx in 2023?

Our growth strategy for 2023 has two main components: organic and acquisitive growth. We plan to increase our volume by maximizing the utilization of our current facilities and expanding our capabilities in high-demand markets. Our most important growth strategy is to deliver on our commitments to current customers. We are focused on developing additional business at all of our existing sites. Additionally, we will seek appropriate bolt-on acquisitions to complement our existing business. As a group of highly skilled professionals, we are well-positioned to serve a growing and fragmented marketplace. Our focus on capacity utilization, market demand, and strategic acquisitions will be key drivers of TriRx's growth in the coming year.