Bespak spending big on R&D to grow nasal delivery business

Bespak, the UK medical devices manufacturer, has unveiled expansionplans regarding its nasal drug delivery business at its results meeting for the six months ended October 27, 2000. The company's pretax profits were L7.8 million ($11.7 million), up 7% on the like, year-earlier period, on turnover of L40.4 million (+4%).

Bespak is looking to push its R&D spend up from L1 million to L4 million this financial year and double it again to L8 million in fiscal 2002, the majority of which will go on nasal drug delivery. The latter market is currently small, says Bespak, but the firm expects it to grow to $15 billion by 2008.