IDT Australia's (ASX:IDT) Q3 revenue soars 48%, inks major deal with Sanofi

IDT Australia booked a 48% year-on-year increase in third-quarter operational revenue, totalling $3.2 million.

Growth is driven by advancements in its three core business areas-- a 70% rise in active pharmaceutical ingredients, a 139% increase in advanced therapies, and a 28% uptick in specialty orals.

Year-to-date sales surpass FY23's total by 27%, with forecasts for continued growth.

IDT Australia also secured a contract with Sanofi Australia valued between $3 million to $3.5 million, focusing on mRNA-based vaccine development and cGMP manufacture, aligning with its strategy of pursuing higher-value formulation contracts.