Leading contract development and manufacturing organisation (CDMO), Sterling Pharma Solutions, has received a Queen’s Award for International Trade for Outstanding Short Term Growth in overseas sales.
The Queen’s Awards acknowledge UK businesses that have demonstrated growth and commercial success in international markets.
Sterling Pharma Solutions has been recognised thanks to an 80% increase in export sales of its active pharmaceutical ingredient (API) development and manufacturing services over the last three years following diversification of its customer portfolio.
Kevin Cook, CEO of Sterling, said: “We are absolutely delighted to have received a Queen’s Award for International Trade. Following a management buyout in 2016 we’ve invested a lot of time and effort into developing a strong growth plan that allows us to nurture our position both on a national and international scale.
“To have our hard work recognised by receiving this accolade is a fantastic tribute to the team and a great platform for our ongoing expansion plans.”
The company has recently acquired a facility in the US and now services a global customer base with its turnover growing by 46% since its formation in 2016.
Having grown steadily year on year the company now employs almost 400 people at its North East headquarters and has an additional 23 members of staff at its new North Carolina facility.
Kevin continued: “Establishing a presence in the North American market puts us in an excellent position to advance our business even further as we look to continue our journey to becoming a global supplier of API services to the pharmaceutical market.”
The award follows the completion of a majority acquisition of Sterling Pharma Solutions by the specialist European healthcare investor, GHO Capital earlier this year.
For more information, visit: http://queensawardsmagazine.com/winners/business-winners/