Contract pharmaceutical manufacturer IDT Australia (ASX:IDT) has announced a 30.4 per cent increase in revenue growth for the three months ending March 2025.
The company reported revenue of $4.1 million, up 30.4 per cent on the prior corresponding period, and secured $4.5 million for contracts for the third quarter of 2025. It said it has also issued proposals amounting to $61.8 million.
IDT said there has been a sharp increase in new contracts for the Active Pharmaceutical Ingredients manufacturing vertical. "This provides an opportunity for IDT to secure follow-on work to produce the finished drug as a tablet or injectable," it said, adding that the vertical reported unaudited revenue of $2.4 million for the quarter, a 72.4 per cent increase over the prior corresponding period and an 812 per cent increase over the previous quarter.
The company's advanced therapy vertical also reported strong growth for the quarter.
IDT CEO Paul McDonald said, "Due to our company primarily operating in early-stage pharmaceutical development, the uncertain macro environment caused by tariffs doesn’t appear to be affecting demand for our services. If anything, customers are telling us that they are eager to form manufacturing partnerships in regional hubs to supply product to various countries to derisk tariff vulnerability. With its open trade policy and high regulatory standards, Australia is seen as an ideal centre for such endeavours."
