Northern Ireland

Norbrook Laboratories: Newry pharmaceutical firm grows turnover by 8.5%

Norbrook factory
Image caption Norbrook Laboratories, founded by the late entrepreneur Lord Ballyedmond in 1969, is now one of Northern Ireland's biggest exporters

Norbrook Laboratories, the pharmaceutical firm based in Newry, County Down, grew its turnover by 8.5% to £216m last year.

Pre-tax profits were steady at £22m, while employee numbers grew by about 100 to 2,152.

The firm specialises in veterinary medicines and is one of Northern Ireland's biggest exporters.

Turnover in North America, its largest trading region, grew by 12% driven by a number of new product launches.

'Buoyant'

However, the weak euro hit sales in mainland Europe.

During the financial year, Norbrook sold its investment in Cumberland Breweries to the US-based firm Alltech.

The group has also completed a restructuring exercise to remove non-veterinary pharmaceutical assets from the group balance sheet.

Liam Nagle, the chief executive, said the animal health industry is "buoyant" and the firm has "a strong pipeline of new products under development".

Norbrook was founded by Lord Ballyedmond who died in a helicopter crash at his estate in Norfolk in 2014.

His family continues to own the company.

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