Campus bio-tech firm set to link up with multinational drugs giant

A BIO-TECH campus company based in Cork signed a lucrative worldwide deal with a multi-national drugs giant yesterday giving it a slice of a €16 billion global market.

The worldwide licensing agreement between Alimentary Health Ltd (AH), based at University College Cork, and Procter & Gamble (P&G), will allow P&G to manufacture, market and sell medication - developed following research and clinical trials by AH in Cork - to treat common gastrointestinal disorders like gastroenteritis, ulcerative colitis and Crohn’s disease.

The treatment of such diseases is one of the largest pharmaceutical markets in the world. However, it was unclear yesterday how much the deal will be worth to AH.