DRUGS maker Aesica is aiming to grow its share of the lucrative animal health market in the next two years and expand further into the US.
The Newcastle-based business is aiming to grab a bigger slice of the niche market, which currently accounts for 2.5% of the global pharmaceutical manufacturing market and is forecast to grow.
Aesica already manufacturing a range of animal health products for customers worldwide and is particularly aiming to expand its market share in the UK and US markets.
Lal Khan, Aesica’s business unit director, API, (Active Pharmaceutical Ingredient) said: “The animal health market presents a tangible opportunity for growth and we are keen to consolidate and build upon our existing portfolio of clients in this marketplace.
“Animal health is a key focus for the API business unit at Aesica, as we already have established assets and processes at our sites, as well as proven capability and expertise in delivering products and treatments for this market. As we are operating with a number of partners in the market it is a logical step for us to expand our portfolio and we are investing heavily in establishing Aesica as a leading provider in this field.”
Aesica, which is based at the Quorum Business Park in Newcastle and employs 700 people, announced in September it is closing its plant at Ponders End, North London, after losing a client. Around 50 people will be made redundant. The £90m turnover company, which also has plants in Cramlington and Kent, is now pushing further into the US.
It has opened offices in New York and San Diego this year, appointed two new business development directors and is aiming to develop strong partnerships with specialty pharma and biotechnology organisations in the US.