Innovative New Zealand agritech company, Simcro, has secured another major award for its use of Research and Development.
The Hamilton-based company has been recognised with the top award for Best Use of R&D in International Business in the prestigious New Zealand International Business Awards 2010, announced in Auckland this week.
The award recognises the best use of design to succeed in a global market niche, applying design to anticipate customer needs.
This latest award caps off a stellar year for Simcro, which is a world-leader in providing customised animal health delivery solutions, such as safety injectors and drench guns, to the pharmaceutical industry.
A delighted Simcro chief executive, Will Rouse, says investing in new product development has been the way to create a sustainable competitive advantage for both his company and its partners in the pharmaceutical industry. He paid tribute to his staff and management’s dedication to excellence and the trust and support of its pharmaceutical partners.
“We are continuing to build our R&D capacity, and now have 12 specialist product development engineers among our 80 staff. We invest heavily in our innovation process but we believe it‟s essential if we want to realise our goals in the global marketplace.”
Rouse says the company has been experiencing strong growth in inquiries from pharmaceutical multinationals looking for innovative and highly customised solutions to deliver their new products, which are increasingly becoming more complex and challenging.
” We’re only just starting to reap the benefits of our R&D investment, our pipeline will deliver benefits for our shareholders in coming years. Where four years ago, we might have had two or three products under development, now we have a significantly greater number.”
Historically, Simcro has designed products to administer pharmaceuticals to farm animals, but their net is widening.
” Word has spread and we’ve been invited into the companion animals, equine, aquaculture and human health areas. We’ve got three or four projects underway that relate purely to cats and dogs, which is a rapidly-growing sector.”