Consort Medical plc is delighted to announce it has entered into a commercial supply agreement relating to its development programme DEV610.
Bespak has signed a multi-year contract, with an initial exclusivity period, to serve as the contract manufacturer of a customer’s proprietary dry powder inhaler (DPI). The customer is a global pharma company whose details remain confidential at this time.
For Bespak this is a significant opportunity, which requires the construction of a further dedicated building at the King’s Lynn site to accommodate the additional moulding and assembly capacity to produce the contracted volumes. Revenues from the contract will be dependent on sales following regulatory approval and launch of any products utilizing the device. The programme is referenced on Consort’s development pipeline as DEV610, and its initial launch is expected in 2015.
Jonathan Glenn, Consort Medical Chief Executive commented: “We are delighted to have secured this major contract, which further leverage’s our operational and regulatory expertise in the production of high volume, premium quality drug delivery devices. This represents a further execution of our strategy for organic growth”
Consort will announce its Interim results for on Wednesday 4 December 2013.