North West healthcare sees huge growth in listed companies
21st November 2019, 3:34 pm
The overall value of the North West’s five listed healthcare companies has increased by 95 per cent over the last three years, according to business advisory firm Deloitte.
Fuelled by the intense growth within the region’s sector – which includes the increasing number of healthcare firms based at Alderley Science Park in Cheshire, data from Deloitte’s North West Share Index shows that the total value of healthcare firms listed on the London Stock Exchange hit £3.5bn – an increase of £1.8bn since 2016.
This growth has been supported by the listing of SkinBioTherapeutics in 2017. Based in Manchester, the firm focusses on skin health, repairing and reducing skin bacteria load. In February, the firm announced that it had hit a half way point in its human studies, which has progressed swiftly as a result of the firm’s growth of 123 per cent since September 2016.
Longstanding listed firms also saw a rise in overall growth. Dechra Pharmaceuticals, a specialist in veterinary pharmaceuticals headquartered in Northwich, has seen a growth of 77 per cent in the company’s value over the last two years. The specialist firm holds the largest value across the healthcare index and saw a 30 per cent growth in value in one quarter alone – from December 2018 to March 2019.
Another firm which saw an increase in its value is Yourgene Health, which is an international molecular diagnostics group, has increased its value by 26 per cent over the six-month period from September 2018 to March 2019. This growth has enabled Yourgene Health to recently launch a new test for a chemotherapy side effect risk and subsequently has helped with the expansion of the firm’s product portfolio.
Kathie Haunton, partner at Deloitte in the North West, said: “The overall performance of the region’s healthcare listed firms have benefitted from the consistent rise in innovation, with the North West having a long and illustrious history across life sciences and innovation.
“The firms are continuing to see an overall positive growth in value which highlights the strength of the region and the businesses that operate within it. It is great to see such a strong sector thriving in the North West, showcased by its vast increase in value over the last three years.”
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