‘Super Aspirin’ could net firm €500m bonanza

A CORK company has developed a side-effect-free aspirin which is expected to generate millions of euro over 10 years.

It is in early-stage talks with a number of multinational pharmaceutical companies based in Cork regarding the development of the drug it has named Super Aspirin.

It expects the product to be on sale in the next two years, pending regulatory approval and sales are anticipated to hit €500 million by 2020.

The company behind the development of the drug hopes to create 100 jobs in Cork over the next three years and help make Ireland a centre of excellence in the pharmaceutical industry.

Solvotrin Therapeutics said it is poised to take on the €11bn anti-platelet market with the development of this worldwide protected aspirin drug.

It said the drug will give all the benefits of aspirin without the side-effect of gastro-intestinal bleeding.

Company co-founder Pat O’Flynn said: “I am very excited about the company’s market potential. Our research has shown the market demands a solution to the side-effects of aspirin and our drug directly addresses this problem allowing us to gain immediate market share in the vast and anti-platelet market.”

Also involved with the company is Dr John Gilmer, who has spent more than 10 years working on the drug.

Aspirin is one of the most prescribed drugs in the world and 100 billion tablets are produced globally each year.

Dr Gilmer said he discovered that he could deactivate aspirin to protect the stomach and intestine lining, allowing it be activated later by enzymes naturally present in the blood, liberating active aspirin only when it is in the bloodstream.

“In this way, the drug maintains its therapeutic qualities, without the damaging gastrointestinal side effects,” he said.

Mr O’Flynn said he is committed to promoting the Cork region as the location of choice for foreign multinationals seeking research partners to address global markets. By talking to Cork-based pharmaceutical companies regarding the drug’s development he hopes that any jobs created will stay in Cork.

“Highly innovative and ground-breaking research has been ongoing in our universities and colleges in recent years. Now, more than ever, ‘Ireland Inc’ needs to ensure this research is brought to market, creating viable jobs and increasing Ireland’s profile internationally,” he said.

The company is preparing to seek regulatory approval for the drug and Mr O’Flynn said they are “very confident” about getting it.

The company has spent €1m in getting the drug to the stage it’s at now.