Thu 1st Sep 2011 Bespak nasal drug delivery contract

 

Consort Medical plc
Bespak wins its first nasal drug delivery contract

Consort Medical plc (LSE: CSRT), today announces that its Bespak Division has won a contract to develop a nasal drug delivery device for a major unnamed global pharmaceutical company, for an undisclosed application. The device is intended to launch in 2015.

Consort Medical’s Bespak Division is a world leader in drug delivery devices and has historically focused on the respiratory and autoinjector markets. The award of this new contract is another signal that Bespak Innovations, our new innovations centre based in Cambridge, is delivering on the Company’s strategy to diversify its core competencies of design and high volume manufacture of medical devices into adjacent market areas.

Jon Glenn, CEO of Consort Medical, said:

We are delighted to announce our first nasal development contract.With programmes in autoinjectors, Point of Care diagnostics and now nasal applications, Bespak is developing a broad suite of products in new growth markets, de-risking the portfolio.