- Targets £7m turnover in new contracts in Peru and Sub-Saharan Africa
Vectorcide International, a Marylebone-based insecticide manufacturer, is to increase its annual turnover from £400k to £7m after securing a series of new exporting contracts in Peru and Sub-Saharan Africa.
The company will export anti-mosquito chemicals to commercial, charity and government organisations based in these two malarial zones.
Vectorcide Insecticidal coating is accredited by the London School of Hygiene and Tropical Medicine and proven to be 99-100% effective in killing insects like mosquitoes for over 15 months after initial application.
A recent trial carried out in Zambia showed a reduction in new malaria cases from 4,000 to fewer than 80 after the product was applied to hard surfaces such as in mud walled dwellings and traditional buildings such as hospitals, clinics, schools and hotels.
The Department for International Trade (DIT) supported the company to navigate the overseas regulatory systems and registration of pharmaceutical ingredients as part of its Exporting is GREAT campaign.
DIT also provided legal guidance on intellectual property licensing, as well as introducing the management team to other importers in the company’s target markets.
This relationship with DIT has also led to Chief Executive Officer, John Coombs, being invited to present to the Nigerian government on the importance of preventing against contagious diseases like malaria.
Speaking about the relationship with DIT and the company’s recent growth, John Coombs, CEO of Vectorcide International, said: “As a business that relies purely on exporting, it’s important for us to understand indigenous government policies, import tariffs and various bureaucratic restrictions. We went through an extended period of research and testing and are now growing our international presence significantly.
“DIT has given us insight on the regulation impacting our business ensuring all our products are in line with the relevant standards for its market. All this combined with the growing demand for British products abroad has set us up for success in overseas markets.”
At the Malaria Summit London, held during the Commonwealth Heads of Government Meeting, the UK government unveiled a £50m malaria programme in Nigeria, pledged a £100m for the Global Fund to Fight Aids, Tuberculosis and Malaria, and reaffirmed its commitment to spend £500m a year up until 2020-21.
Baroness Fairhead, Minister of State for Trade and Export Promotion, said: “The UK is one of the top three life sciences hubs in the world, with British companies tackling some of the biggest healthcare challenges of our time.
“Businesses like Vectorcide International, which specialises in anti-mosquito products, help improve the lives of people and communities that are affected by diseases spread by these insects.
“At the Department for International Trade, we are absolutely committed to helping the industry grow even more. Our global network is on hand to support UK life sciences companies to build on their success and remain at the cutting-edge of innovation.”
- Culled from NewsNow