From Local To Global: Almac's £1 Billion Milestone in Pharma Innovation

In a remarkable achievement, Almac, the pharmaceutical giant based in Craigavon, has crossed the £1 billion mark in annual sales for the first time in 2024. The company reported total revenues of £1.027 billion for the fiscal year ending September 30, marking a £69.5 million increase from the previous year, which equates to a 7% growth.

Notably, pre-tax profits surged by 27%, rising to £119 million, up from £93.8 million in 2023. Almac’s key operations revolve around providing manufacturing and distribution services for major global pharmaceutical firms. The company is not only a service provider but also is actively engaged in drug development; it recently announced a licensing agreement for a cancer treatment with a Taiwanese firm aimed at further development and commercialization.

The company has also expanded its workforce, now employing approximately 7,700 people across its global operations. Group chairman and chief executive, Alan Armstrong, highlighted that these results represent another year of successful growth for Almac. Being a privately-owned and independent entity, Almac reinvests all profits into the business, allowing it to innovate and expand to meet the increasing demands of global clients, significantly contributing to advancing human health.

In recent growth initiatives, Almac is enhancing its production and distribution facilities in the US and Singapore. This milestone places Almac among a select group of Northern Irish firms achieving an annual turnover exceeding £1 billion, a list that includes notable entities like Graham Construction and W&R Barnett.