Consort breathes easy in downturn
In a trading update today (3 November) drug delivery devices manufacturer Consort Medical said its markets were “relatively unaffected” by the economic cycle and it continued to seek growth organically and by acquisition.
The company, which has two arms – Kings Lynn, Norfolk-based Bespak, which makes inhalers and US breathing tubes and masks subsidiary King Systems –reported that it was “performing well” and anticipated annual results in line with expectations.
The Bespak business, with the switch of drug propellant technologies from a CFC propellant to an HFA propellant, Bespak has increased its global market share over the past five years from around 28% to 40%. Negotiations were underway with customers, said Consort, “regarding opportunities to grow the business”.
The closure of the company’s Milton Keynes site had been completed although the current state of the property market meant its sale was not likely in the near future.
King Systems performed slightly below expectations due in part to a voluntary minor product recall.
