Our Divisions
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Who we are
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- Leading drug delivery device manufacturer
- Blue chip pharmaceutical customer base
- High volume device manufacturer to FDA standards
- High margins and good cash flow
- Defensive markets and high barriers to entry
- Manufactures 500m devices pa
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- Leading US manufacturer of disposable devices for the establishment and maintenance of airways
- Strong brand and reputation for premium quality
- Direct sales force for US market and distribution for overseas market
- Manufactures over 17m devices pa from Indiana and Ohio facilities
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Market overview
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- Current focus on devices for treatment of asthma and COPD
- 300m patients world wide, growing at 2-3% per annum
- $14bn pharmaceutical market
- Treatment by either Metered Dose Inhaler (MD) or Dry Powder Inhaler (DPI)
- Bespak is a leading supplier of both MDI and DPI technologies
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- $0.5bn market for anaesthesia medical devices
- Strong growth in supraglottic airway and visualisation sectors
- Lower regulatory requirements allow rapid introduction of new products
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Key products
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- MDI: precision valves to deliver metered dose, actuators, dose counters and other services
- DPI: design for mass manufacture and manufacture of DPI devices
- Medical check valves for other medical devices
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- Anaesthesia circuits and masks
- Supraglottic airway devices
- Disposable visualisation devices
- Other related accessories
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Business highlights
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- Achieved forecast revenues and earnings despite loss of major product in 2008
- Increased capacity in valve manufacture
- Commercial launch of a device services programme and a new development programme won
- Extension to key customer contract, albeit at lower pricing
- Dose counter enters patient clinical trials along with new valve technology
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- New CEO Don Dumoulin appointed
- Robust sales in difficult markets
- Launch of new laryngeal airway device and HME filter
- Strong growth in international sales
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Looking forward
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- Investment in innovation team to drive long-term growth
- Flattening MDI market but opportunities for growing share and expanding product offering
- Continuing progress to commercialisation of multiple organic growth opportunities
- Cost reduction programme to reduce costs and maintain earnings following contract renegotiation
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- Launch of three-year investment programme to automate and transform manufacturing operations, increasing business margins
- Increased investment in R&D and product launch rate
- Increased focus on international sales portfolio
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