SCM Pharma Limited (06641808): administration
- Status
- Administration ended
- Administration began
- 2014-08-06
- Administrators
- Ian David Green, Toby Scott Underwood
- Administrators' firm
- PwC
- Formerly
- Timec 1179 Limited
- Incorporated
- 2008-07-09
- Location
- Leeds
- Industry
- 21200 Manufacture of pharmaceutical preparations
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Cash flow / liquidity pressure
- Regulatory change or action
From the administrators' statement
SCM Pharma Limited (“the Company”) 1s a trading company whose principal activity 1s the manufacture of heensed drugs, primarily the manufacture of Buccolam for ViroPharma SPRL (“ViroPharma”), whose ultimate parent 1s Shire Ple (“Shire”) ‘The Company operates from two sites in the North East of England in Newburn and Prudhoe.
The Company was set up by Fiona Cruickshank and others in 2008 The business was established at Prudhoe, Northumberland with the aim of servicing the drug manufactumng needs of the clinical trials sector This was batch led work with a large variety of products manufactured in relatively small volume runs
The opportunity to manufacture Buccolam for ViroPharma was accepted in 2010 The facility at Newbuin, Newcastle upon Tyne, was constructed to service the supply contract with ViroPharma and other manufacturing contracts if they could be secured The facility opened m April 2012, however the quality control laboratory used for the production of Buccolam remained at the Prudhoe site The Newburn facility was funded by a £2m loan and a further £im equipment loan, both provided by ViroPharma
Administrators' statement of proposals (2014-09-15) · Companies House register