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Cegedim Revenues Grow Strongly
French-based pharmaceutical CRM and healthcare industry data supplier Cegedim has announced consolidated revenues of Euros 607m for the first nine months of 2008, a 16% increase. For continuing operations at constant exchange rates the figure was an even healthier 21%.
Revenues from CRM and Strategic Data were Euros 350.2m, up 12% - equivalent to 19.1% organic growth at constant currencies, and 'boosted by the excellent performance of healthcare sector market research' according to the firm, whose other sectors are services for healthcare professionals and insurance services.
Third-quarter revenues came to Euros 189m, down 1.3 % due to a strongly negative currency effect and an 'expected downturn in business' from the group's biggest US client.
Cegedim says the current financial crisis should 'only marginally affect the Group' but has nevertheless decided to 'ratchet up'its restructuring and integration plan, and limit its investments. It will continue to make targeted acquisitions, having bought Reportive in July to extend its expertise in the performance management software.
The company has confirmed earlier guidance for the full year 2008, forecasting revenues of Euros 840-850m and 'operating margin in line with 2007', pointing out that its fourth quarter is always strong. The forecast excludes exceptional charges (IFRS) and restructuring and integration costs.
Cegedim, founded in 1969 and listed on NYSE Euronext Paris, employs more than 8,000 people in 80 countries and is on the web at www.cegedim.com . Earlier this year, the company partnered with fellow life sciences specialist Skila to form a global marketing alliance to promote three tools / solutions from each company.
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