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Innovative Irish Company develops profitable niche

Wednesday, 1st May 2013

Innovative Irish Company develops profitable niche

Innovative Irish Company develops profitable niche within the Pharmaceutical and Life Sciences sector

A Waterford-based Pharmaceutical Stability Storage business has recently been launched, leading to 10 new jobs for the region.

Q1 Scientific, led by CEO Louise Grubb, is the first company in Ireland to specialise in the provision of a Stability Storage and Sample Management service that meets the highest-international standards, as required by the Pharmaceutical, Medical Device and Life Sciences industries.

Stability storage is an essential regulatory requirement for both R&D and finished products within the sector and the new Waterford-based enterprise has identified a profitable niche that allows companies, which traditionally carried out such functions in-house, to outsource services in a secure, regulated and cost-effective manner.

Speaking at the company's launch where Minister for State John Perry T.D. was in attendance, CEO, Louise Grubb said that fundamental challenges facing the Pharmaceutical and Life Sciences sector - including reduced earnings resulting from the 'patent cliff' and significant increases in operating costs - have accelerated the strategic move by companies operating within the industry to leverage out-sourcing options wherever possible.

"From the outset, our aim at Q1 Scientific has been to provide outsourced, environmentally-controlled storage services for the Pharmaceutical, Medical Devices and Bio-Sciences industries in Ireland. The establishment of a business, such as ours, can now offer companies involved in R&D the opportunity to outsource what is a highly capital-intensive function."

She continued: "Our purpose-built facility in Waterford offers state-of-the-art stability storage to clients from across the Life Sciences sector, far exceeding the strict international registration standards demanded by the production of pharmaceutical and medical devices.

"We greatly look forward to growing the business over the coming years and aim to become a world-leader in global stability storage solutions."

A key factor in meeting with industry's strict regulatory requirements for registration of any new drug or medical device is proof that the product will retain its stability under specific environmental conditions.

As this is also essential in determining the shelf-life of any product, and an integral aspect of the product development process, the establishment of Q1 Scientific has delivered an innovative, cost-effective and fully-integrated alternative to in-house stability storage for Irish businesses, which in turn empowers customers to outsource their stability storage requirements with complete confidence.


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