New Zealand Pharmaceuticals Ltd wins Agritech, Life Sciences and Biotechnology Exporter of the Year Award

November 15, 2007

New Zealand Pharmaceuticals Ltd (NZP), a company that is experiencing rapid growth through the development of new, innovative products and new markets, has won the 2007 Agritech, Life Sciences and Biotechnology Exporter of the Year Award.

The Award was presented to NZP at the New Zealand Export Awards in Auckland on 15 November. Agritech, Life Sciences and Biotechnology was one of seven sector awards, with the top prize, the DHL Supreme Exporter of the Year, won by IBEX Group of Companies.

The Export Awards judges said NZP has continued to grow in difficult global trading conditions and has simultaneously improved and invested in their overall capability and capacity.

“This is an exporting company that is responsive to its markets, is well led, and has the ability to transform and compete.”

NZTE Chief Executive Tim Gibson congratulated the seven 2007 Export Award winners, describing their achievements as inspirational.

“These companies represent a vibrant mix of successful export businesses; companies that have identified a gap in the marketplace and cultivated their point of difference to produce and distribute quality goods effectively in international markets, using a variety of business models.

“We need to see more New Zealand businesses following their lead and operating internationally in order to increase our global business footprint.

“My congratulations to all the finalists in this year’s Awards and my thanks for your willingness to stand up and stand out among your peers in Export Year. You are inspired and inspiring.”

NZP was formed in 1971 to extract and purify biochemicals from by-products of New Zealand’s meat processing industry, such as cholic acid extracted from bile, which is used in vaccine manufacture, drug delivery and as diagnostic ingredients. Commercial Manager Mike Callagher said to this day cholic acid remains NZP’s core export product, enjoying a global leadership position built on quality and service.

The Palmerston North firm recognised early on that diversification would be a key driver of growth, and in the 1990s refocused its market development onto plant extracts.

“Our Just the Berries branded blackcurrant products aimed at the international functional foods sector are now bringing the much awaited returns, with a three-fold increase in sales over the last 12 months,” said Mr Callagher. “We’ve also been working closely with an Australian company to bring a range of seaweed extracts to the market, which has seen significant increases in sales over the past year.”

NZP’s other big focus has been the burgeoning niche of synthetic biopharmaceuticals. Its symbiotic relationship with the carbohydrates team at Crown Research Institute Industrial Research has enabled the successful commercialisation of this novel technology, allowing NZP to establish niche products with applications in treating cancer and heart disease.

The development of the synthetic carbohydrates market provided the commercial basis for NZP’s new $10 million specialty manufacturing facility. This has given NZP a platform to accelerate its export growth rapidly, providing the firm with much greater operational capability and advanced compliance levels.

Today NZP exports 99 percent of its products and has more than 150 customers in 30 countries across the globe, including eight of the world’s 12 largest pharmaceutical companies.

A rapidly growing, medium-sized New Zealand firm, Market Development Manager Selwyn Yorke said the foundations are now in place for NZP to achieve annual export sales of $100 million within the next 10 years.

Notes for Editors:

This is one of a series of eight media releases with detail of all seven category winners and the DHL Supreme Award winner.

More information on all of the finalists including images is available at www.exportawards.co.nz

Contact: Mike Callagher, Commercial Manager, NZP, phone 06 952 3800, ex 840, email mike.callagher@nzp.co.nz, www.nzp.co.nz

Distributed by Jennifer Andrewes, Corporate Communications Manager,New Zealand Trade and Enterprise, phone +64 4 931 6144, mobile +64 27 228 0261, or email jennifer.andrewes@nzte.govt.nz