Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


PharmaZen notches strong increase in tough export market

PharmaZen notches strong increase in tough export market


3 April 2014 – Biotechnology company PharmaZen Ltd has reported a 38% increase in its annual surplus before tax of $739,114 for the year ended December 31, 2013, despite a challenging environment for exporters.

The result was on turnover of $6,998,599 and compares with a before tax surplus of $537,108 on turnover of $6,685,972 for the previous corresponding period.

Chief executive Craig McIntosh said it was a significant achievement in what was another challenging year for exporters.

He said PharmaZen had set very aggressive timetables for product and capability development as it looked for additional growth areas.

Last year saw the commercial launch of StimuCalä, a clinically proven calcium supplement.

“This is the first time the PharmZen has had branded material in retail markets and it is our first product with patent protection. StimuCalä is the only product on the market clinically proven not to cause spikes in calcium serum levels,” McIntosh said.

During the year, PharmaZen commissioned a state-of-the art fluidised powder blender enabling highly accurate blending at up to 1500kgs per batch.

McIntosh said the unit provided PharmaZen with a significant point of difference over competitors who had smaller, less-accurate ‘homogenizers’ and had already helped secure additional contract business.

After delays caused by a third party, the extraction plant will be commissioned this year and PharmaZen already has customer commitments for use.

“Frustrations that were outside our control with delays to the extraction project have prompted us to switch to a more self sufficient model and we have invested heavily in putting together a pilot plant that will be on a par with the best available in New Zealand,” McIntosh said.

“This provides a significant advantage as we will be able to offer pilot and scale up capacity across a range of technologies which will include spray drying, solvent extraction, freeze drying, and column separation. With this in mind we have bought a new 1000kg freeze dryer to cope with additional volumes and have an option on another larger unit.”

PharmaZen’s traditional freeze drying and vacuum drying technologies will be complemented in 2014 with the installation of a new Spray Dryer which opens up significant new product opportunities, McIntosh said.

“There is no doubt that exchange rates and margins will again prove challenging for 2014. However, through diversification of product range and increased capabilities, PharmaZen is well positioned.”

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Transport: Boards Of Inquiry For Auckland Roading Projects

Boards of Inquiry have been appointed to decide on two significant Auckland roading projects in a move which will get a decision by the end of the year, Environment Minister Dr Nick Smith and Conservation Minister Maggie Barry announced today. More>>

ALSO:

Three Months On: Quake Reciovery In Kaikōura And Elsewhere

Three months after the magnitude 7.8 earthquake on 14 November, encouraging recovery progress is being made in affected communities. More>>

ALSO:

Jetstar, Qantas For Govt Transport: Government Still In Talks With Air NZ

The government is still negotiating with national carrier Air New Zealand in a cross-agency air travel contract that will add a number of new airlines to the list of approved flyers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news