Ergomed’s PrimeVigilance awarded 2019 Queen’s Award for Enterprise
London, UK – 23 April 2019: Ergomed plc, (LSE: ERGO) ('Ergomed' or the 'Company'), a company focused on providing specialised services to the pharmaceutical industry, today announces that PrimeVigilance, its pharmacovigilance, regulatory and medical information service provider, has been awarded the Queen’s Award for Enterprise for the second time reinforcing Ergomed’s broad leadership position as a provider of contract services. Now in its 53rd year, the Queen’s Awards for Enterprise are the most prestigious business awards in the country.
Ergomed’s PrimeVigilance has received the 2019 Queen’s Award for International Trade in recognition of its year-on-year outstanding services in the drug safety sector for its global customer base. As an International Trade winner, PrimeVigilance has demonstrated substantial growth in overseas markets and commercial success, further cementing its place as a global leader in pharmacovigilance.
The global pharmacovigilance market is forecast to grow to more than $8 billion by 2024 from around $3 billion in 2015, with contract outsourcing forecast to expand from around 30% of the market in 2015 to approximately 50% in 2024 (Source: Global Market Insights 2017). It is essential that outstanding companies like Ergomed are able to support these growing markets.
Ergomed’s PrimeVigilance first received a Queen’s Award for Enterprise in 2014 in recognition of its substantial growth and commercial success.
In addition to pharmacovigilance, Ergomed provides full CRO services across all phases of clinical development and therapeutic areas under the Ergomed brand, with a particular focus on orphan drug development.
Dr Miroslav Reljanović, Executive Chairman of Ergomed, commented: “We are delighted that Ergomed’s PrimeVigilance has been honoured with a Queen’s Award for the second time in recent years. This prestigious accolade recognises the Company’s continued year-on-year international growth and reinforces Ergomed’s position as a leading provider of services to the pharmaceutical industry.”