Through Rephine (acquired in March 2009), iX provides audits of pharmaceutical companies for both good manufacturing practice (“GMP”) and good clinical practice (“GCP”) at its suppliers, based both in Europe and the Far East. It has a library of over 150 audits, which it is continually increasing and which are available to purchase for companies looking to save the cost of an in-house audit. It also provides consultancy advice to the same customers.
Sales from this part of the business were over £1.62 million in the year to 31 July 2017 (up from £1.37 million in the prior year) – up over tenfold in the last seven years – and this strong growth is budgeted to continue. Profits were depressed as a result of a lack of higher margin consultancy business and a higher cost to income ratio in respect of the nascent GCP auditing side of the business.