Bespak has a proven track record in developing both proprietary and customer products.
During the previous financial year, we added three new programmes to the Development Portfolio. During FY2013 there has been significant activity on the portfolio, and substantial resources are being added to manage these opportunities.
During the year the Chiesi NEXThaler was launched, in Germany initially with regulatory approval already secure for another 13 European countries.
Another significant development in the year was the award of a multi-year exclusive supply contract for Nicoventures. Previously a development programme with Kind Consumer, Nicoventures has licensed the product IP from Kind, and awarded the supply contract to Bespak. The product has been filed with the MHRA for approval.
All programmes have made further progress towards launch, except NAS010 which is under review by the customer — as indicated at the time of the Interim results. The Group followed its first two tranches of equity investment in Atlas Genetics with a third in April 2013. Significant progress has been made on the point-of-care ("POC") Test Cartridge, POC010, though launch is now expected about six months later in H2 2014.
In addition to the above, there are discussions on a number of programme opportunities in process currently, in established IP, contract manufacturing, and new IP (in particular from the Innovations team in Cambridge), and we expect to be able to unveil a new development programme on at least one of these within the next six months.