Neoceuticals breaks into new territory

Neoceuticals has signed a contract to supply its NeoKay 1mg capsule, which is a prescription product used to prevent bleeding in newborn babies due to a deficiency in Vitamin K. The DTI’s office in Leeds helped to broker the deal for the company by carrying out research into a Lithuanian-based agent who approached Neoceuticals about the export opportunity.

Dr Andrew Brodrick, director of Neoceuticals, said: “The DTI was tremendously helpful in establishing that the agent was certainly someone we should be doing business with.

“The size of the contract is around five times the value of the UK market and it marks our move into a new, lucrative territory.”

Lithuania will be the “conduit for export” into nine former Eastern Bloc countries. Collectively, these countries have an annual birth rate of 4 million babies. This compares with 750,000 babies born in the UK each year. Neoceuticals has two directors, Dr Brodrick and Dr Rod Adams, and the company hopes to achieve a turnover of £1m in 2011.

Before establishing his own company Dr Brodrick was an NHS Pharmacist in Birmingham and North Yorkshire for 10 years. He went on to found Bio-Medical Services in 1982 and then BMS Laboratories in 1988. Neoceuticals was formed in 2007 and invests in paediatric, specialist nutritional and niche products for the healthcare market, primarily in the UK.