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02/09/2009
'Billion Dollar' Pharma Product Applauded
A Co Down pharmaceutical company is celebrating this week.
NI Enterprise Minister Arlene Foster has congratulated Norbrook Laboratories on a new product expected to secure more than US$1 billion in global sales.
The Newry based pharmaceutical company - which produces a vast portfolio of products for the global veterinary and medical markets - has developed the product helped by £210,000 of research and development (R&D) support from Invest Northern Ireland (Invest NI) and the European Regional Development Fund (ERDF).
The Minister heard that the primary focus was the investigation of novel application methods and drug combinations for the treatment of a range of internal parasites, including liverfluke, which impact severely on the health and productivity of dairy and beef herds.
After more than five years of challenging research and clinical trials, the new product, called Closamectin Pour-on Solution, was launched this week.
Congratulating company Executive Chairman, Lord Ballyedmond, on the launch of the new product, Arlene Foster said: "Norbrook is a home grown company which has worked at the forefront of the veterinary pharmaceutical market since its inception in 1968.
"Research and development activities have been integral to Norbrook's global success and in securing its reputation for clinical excellence," she said, noting the product provides the international agriculture sector with a treatment which combines effective disease control with ease of use, significantly enhancing the treatment and control of parasites that can potentially devastate dairy and cattle herds.
"With global sales estimated at over $1 billion, Norbrook has once again set the bar for research excellence in the veterinary pharmaceutical sector.
"This launch proves the long-term value of investment in new product development and innovation, a focus which will continue to increase competitiveness in the future, as well as highlight local capability on an international stage," she said.
(BMcC/KMcA)
NI Enterprise Minister Arlene Foster has congratulated Norbrook Laboratories on a new product expected to secure more than US$1 billion in global sales.
The Newry based pharmaceutical company - which produces a vast portfolio of products for the global veterinary and medical markets - has developed the product helped by £210,000 of research and development (R&D) support from Invest Northern Ireland (Invest NI) and the European Regional Development Fund (ERDF).
The Minister heard that the primary focus was the investigation of novel application methods and drug combinations for the treatment of a range of internal parasites, including liverfluke, which impact severely on the health and productivity of dairy and beef herds.
After more than five years of challenging research and clinical trials, the new product, called Closamectin Pour-on Solution, was launched this week.
Congratulating company Executive Chairman, Lord Ballyedmond, on the launch of the new product, Arlene Foster said: "Norbrook is a home grown company which has worked at the forefront of the veterinary pharmaceutical market since its inception in 1968.
"Research and development activities have been integral to Norbrook's global success and in securing its reputation for clinical excellence," she said, noting the product provides the international agriculture sector with a treatment which combines effective disease control with ease of use, significantly enhancing the treatment and control of parasites that can potentially devastate dairy and cattle herds.
"With global sales estimated at over $1 billion, Norbrook has once again set the bar for research excellence in the veterinary pharmaceutical sector.
"This launch proves the long-term value of investment in new product development and innovation, a focus which will continue to increase competitiveness in the future, as well as highlight local capability on an international stage," she said.
(BMcC/KMcA)
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