7 Sep 2016 07:00
Consort Medical plc
7 September 2016
New Scale-Up and Commercial Supply Agreement
Consort Medical plc ("Consort Medical", "Consort") (LSE: CSRT), is pleased to announce the successful signing of a significant new commercial supply agreement for Bespak's proprietary respiratory devices.
AstraZeneca AB ("AstraZeneca") and Bespak have agreed to enter into a multi-year agreement for the scale-up and supply of Bespak's proprietary pressurised metered dose inhaler (pMDI) valves and actuators. These components will be assembled with AstraZeneca's Bevespi Aerosphere (glycopyrrolate and formoterol fumarate) inhalation aerosol indicated for the long-term, maintenance treatment of airflow obstruction in patients with chronic obstructive pulmonary disease (COPD), including chronic bronchitis and/or emphysema. AstraZeneca announced that its device was approved by the US Food and Drug Administration on 25 April 2016.
These products will be manufactured in Bespak's existing King's Lynn facility. Going forwards the project will be referred to as VAL100.
Jon Glenn, Chief Executive Officer of Consort Medical, commented:
"We are delighted to have successfully concluded this agreement with AstraZeneca. This further reinforces the ongoing strength of our respiratory device franchise in the pMDI segment."
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Enquiries:
Consort Medical Tel: +44 1442 867920
Jonathan Glenn - Chief Executive Officer
Richard Cotton - Chief Financial Officer
FTI Consulting Tel: +44 20 3727 1000
Ben Atwell / Simon Conway
Consort Medical plc is a leading, global, single source drug and delivery device company (CDMO). We are at the leading edge of innovation and we are committed to investing in patient, clinician and customer driven innovation to create new treatments, new markets and new opportunities.
Our businesses
Bespak is a global market leader in the manufacture of drug delivery devices for pharmaceutical partner companies, including respiratory, nasal, and injectable products, and the manufacture of devices for the point of care diagnostics market. www.bespak.com.
Aesica is a leading provider of finished dose and active pharmaceutical ingredient (API) development and manufacturing services to pharmaceutical partners. www.aesica-pharma.com.
We employ more than 2000 people globally of which 1400 are located in the UK. We have UK facilities in King's Lynn, Cambridge, Nelson, Milton Keynes, Cramlington, Queenborough and Hemel Hempstead, German facilities in Monheim and Zwickau and a facility in Pianezza, Italy. Consort Medical is a public company quoted on the premium list of the London Stock Exchange (LSE: CSRT). www.consortmedical.com.