Cyprotex hit by lower demand
Nov 20, 2009
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Shares in drug discovery technology and information company Cyprotex fell back after it said it had experienced lower than expected demand over the fourth quarter, including from its largest customer.
However, the company did say that it had seen more business enquiries during the quarter.
'Although we are disappointed not to have delivered stronger growth this year we believe that this is a resilient performance given the backdrop of challenging market conditions for the CRO sector,' said chief executive Tony Baxter.
Cyprotex added that it had increased the number of 'strategic customers' from three to five and is in discussions with other significant partners.
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