The Tredegar-based pharmaceutical development and manufacturing company Penn Pharma has been awarded a Queen’s Award for Enterprise 2010 in the International Trade Category in recognition of its exporting success in the last three years.

This is the second time Penn Pharma has been awarded with this prestigious title for outstanding achievement, having also received a Queen’s Award for Enterprise in 2003. Acting as an important benchmark of quality, the awards recognise and reward exceptional business performance and are made each year by The Queen, on the advice of the Prime Minister, assisted by an Advisory Committee.

Penn Pharma, one of Wales’ fastest growing pharmaceutical companies, provides pharmaceutical development and drug product manufacturing services to the UK domestic and international health care industry. From its headquarters in Tredegar and its storage & distribution facility in Oakdale, South Wales, Penn Pharma’s services support a fast and effective route from early human clinical trials through to market and commercialisation of medicinal product.

During the three year application period for the Award, Penn Pharma exported approximately 51 percent of its total sales and achieved an export growth of 65 percent. With an international client base, 66% of the company’s turnover is generated from outside of the UK.

As well as having an international client base, Penn Pharma also exports products worldwide. Penn also established a US Sales & Marketing arm, Penn Pharmaceutical Services US Inc, in 2007 which supported strong US growth, including opportunities from blue chip Pharma companies.

Penn Pharma’s increasing international presence has resulted in significant orders in the last twelve months from new markets, including many opportunities from Korea, Israel and Czech Republic. Penn Pharma is also building strong relationships with clients in other relatively new markets including China and Latvia as well as performing quality audits in South America, Turkey, India and Taiwan.

The company has targeted export growth through a strategy of regular overseas visits to current and potential clients by both technical and business development staff, accompanied by a programme of international exhibitions, seminars and client visits to Wales.

Mark Molyneux, Chairman of Penn Pharma, said:

"This is a great accolade for the company, and is testament to the hard work and commitment shown by our dedicated staff. We have proven once again that we are among the UK’s top exporting companies and that we continue to meet the demanding standards required for a Queen’s Award. We are proud to receive this award and to show Wales as one of the leading players in the international trade market."

Current Penn Pharma clients include many of the world’s leading pharmaceutical companies, several new biotechnology and healthcare start-up companies and some of the top European, Japanese, North American and international companies.

Founded in 1979, Penn Pharma is a major employer in South Wales, employing over 260 people at its South Wales headquarters and is the main sponsor of the Wales Innovation Award, a principal sponsor of the Eisteddfod 2010 and supports Tenovus as its corporate charity for 2010/11.

Lee Mainwaring, Finance Director at Penn Pharma stated:

"The company is currently undertaking a £12m expansion programme at its Tredegar base, which has seen the company upgrade its facilities, improve transport links and has just started work on a new Cold Storage facility. The expansion programme will continue to be rolled out over the next five years, with the company aiming to complete upgrades in keeping with its growth."