1 July 2006
University of Gloucestershire
Brecon Pharmaceuticals
Offering a complete package for pharmas
New corporate systems and laboratory testing of drugs have been added to the packaging services offered by Brecon Pharmaceuticals, with assistance from the University of Gloucestershire, enabling them to provide a more comprehensive service to clients and creating a valuable new revenue stream.
University assisted company to achieve strategic growth plans based on new corporate information systems
- A new laboratory facility to service customers' analysis requirements is now fully operational
- Main corporate systems went live 6 months ahead of schedule
- Improved competitiveness and customer satisfaction
- Increased profits and revenue stream
- Knowledge Transfer Partnerships (KTPs) have provided University with research material for cross company comparative research
- University helped to establish a track record in successful management of the KTP process
Brecon Pharmaceuticals Ltd (BPL) provides a range of 'outsourced' services to the pharmaceutical and healthcare industries, principally the packaging of manufactured drugs and of new drugs undergoing clinical trials. In many instances, the drugs have to undergo a range of laboratory tests which, until recently, had been contracted out to a third party.
In 2003, the company contacted the University of Gloucestershire's Business School for advice on upgrading its main information systems and improving its service to clients. As a result, two Knowledge Transfer Partnerships (KTPs) were set up, offering government funding and academic support to employ recent graduates to work on the projects. In the first project, the KTP Associate worked with senior company management to install a new Enterprise Resource Planning (ERP) system across the company, which was achieved in late 2004, 6 months ahead of schedule.
In the second project, the Associate reviewed and researched client requirements for analytical services. A state-of-the-art laboratory was established, adding testing servies to BPL's in-house facilities. This enabled the company to produce a more comprehensive service to clients that might otherwise have gone elsewhere.
The new laboratory is a key strategic service to increase turnover and profit and showed a clear link between an entrepreneurial initiative and the planned growth of the company. The saving in outsourcing laboratory costs and the growth in sales revenue from analytical services were in line with the overall growth in turnover of the company as a whole. The new revenue stream from the laboratory will exceed £200k in 2005. Growth projections suggest that this revenue stream will rise to over £500k by 2008, making a significant contribution to the company's total turnover and profits.
As well as being on track to achieve project objectives, the joint KTP programme has had a number of secondary benefits, including upgraded computer literacy, improved turn-around time for all analysis, development of client relationships, and enhanced analytical expertise and market profile.
"Brecon Pharmaceuticals are now on track to achieve the turnover targets for this year and the development of the laboratory service is a significant achievement that will help drive new revenues in future years."
Dr Karl Fry, Head of Laboratory Services
