What were the main highlights for TriRx in 2023? 

TriRx had a fantastic 2023 and experienced tremendous growth in new business, as well as our technologies and capabilities. It was exciting to see the marketplace coming out of all the pressures and inflationary periods after COVID-19. In 2023, TriRx became the largest CDMO in animal health in the world, and we have focused our attention on this segment. Today, our business is approximately 85% animal health and 15% human health.

Can you elaborate on TriRx’s partnership with Liverpool City Region, and what it will mean for the company? 

Great innovations and new medicines are emerging in the animal health space, especially in terms of biologics and monoclonal antibodies, and we saw great opportunities in this developing area. TriRx already had a large amount of biologics capability, but to enable our ability in monoclonal antibodies, we decided to create a development laboratory, commissioned in 2023, which allows us to do full-scale monoclonal antibody development.  We are also investing in upstream facilities to enable our mAb’s manufacturing capability.  The UK Government, through the Liverpool Investment Zone, agreed to support this project and provided a minor investment grant to enable us to develop this monoclonal antibody capability. 

How important is the US market for TriRx, and what is the company’s growth strategy here? 

TriRx has three facilities in the US, one in France, and one in the UK. We invest equally into these facilities as there is a huge opportunity in all of these markets. Our US facilities all saw major growth in 2023 and the US market is a very important market to TriRx and the industry.

What will be the key catalysts for CDMOs in 2024 and beyond?

The key catalysts will be new technologies and the growth of the market. There is a significant growth in demand for CDMO services, mostly driven by the trend of companies outsourcing development and manufacturing capabilities to focus on their core competencies. There is also an increasing and aging population in both the animal and human health worlds, which also drives demand. A focus on reshoring is also a major opportunity and is being accelerated by the BioSecure Act in Congress.

Can you elaborate on TriRx’s innovation culture, and how that is a competitive advantage for the company? 

Innovation is key in the pharmaceutical and life sciences industry, and bringing new technologies and products to market is critical to the growth and value of the industry. TriRx’s position is to apply technologies to improve efficiency and generate the capability to produce products for the marketplace. In 2023, the company invested in capabilities and technologies in three areas - sterile injectables, liquid creams and ointments, and monoclonal antibodies. 

The US is known as the innovation hub of the world. What is your take on the US’ capacity to continue innovating? 

Innovation in the pharma world has historically come from Western Europe and North America. Innovation will continue to be critical and will continue to be led out of the places where there are thriving economies and strong technical knowledge and capability. I believe we will continue to see significant innovation in the US, as well as Europe.

What is your take on the health of the life sciences industry in 2024 compared with 12 months ago? 

The health of the life sciences industry in 2024 is very favorable. There are some countermanding pressures due to the cost of care and medicines and the number of people in need, and there is this constant dynamic with pricing pressures and innovation. Innovation costs money, and trying to figure out how to balance the investment needed to generate and advance technology for efficiency and new medicines will be critical. People finding a way to achieve this balance, as they always have, will be the solution. There is a positive attitude and dynamic towards the capability and ability of the life science industry to continue to innovate and continue to make a difference.

What are TriRx’s key priorities to sustain company growth?

We want to deliver an exceptional experience, and it is our focus to be the preferred CDMO that can be trusted to continuously and reliably deliver on its commitments.