Partner Article

Pharmaceutical heavyweights announce new special relationship

NORTH EAST medicines manufacturer Quantum Pharmaceutical has secured a £1.5m stake in medication management design specialist, Protomed.

Quantum Pharmaceutical, based in County Durham, has forked out £1.5m for the stake in Protomed, which is based in Congleton, Cheshire.

Protomed founder Norman Niven said the money would be used for working capital to expand the business and develop new products and services.

The partnership is set to radically alter the relationship between patients and the pharmaceutical industry and combat the UK-wide trend towards unintentional drug wastage.

Drug wastage reportedly costs the treasury over £3.5 billion a year and it is said to occur in over 65% in patients over 70 years old.

“The investment by Quantum highlights the important role that pharmaceutical companies play in patient welfare and health outcomes,” said Protomed CEO and founder Norman Niven.

“The move sends out a powerful message that pharmaceutical companies now have a responsibility to ensure their drugs are taken precisely when and how they were intended.

“No matter how effective the drug is, if it’s not taken correctly, if at all, the patient outcome is compromised.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .