A DRUGS company is pushing ahead with plans to increase its international standing, The Northern Echo can reveal.

Quantum Pharma is assessing potential partners to grow around the world.

Confirmation comes as the business, based in Burnopfield, near Stanley, County Durham, focuses on a turnaround plan to address its fortunes.

The company, which develops, makes and supplies treatments, was previously forced to warn the latter part of a yearly financial review would be “materially below market expectations” after “slower penetration” across some products.

Such issues have seen the firm offload an operation and drop an unprofitable drugs-making division, with its senior team also refreshed.

However, Gerard Murray, chief financial officer, told the Echo that the business, which provides work for hundreds of staff, was moving on from its difficulties, with international links on the agenda.

He said: “This is a UK-centric business because we develop products with the UK regulator.

“The idea would be to look for the right partners in a number of territories where we could introduce products.

“We are at the start of that but we have a list and are working to identify partners that could potentially be of benefit.

“It would leverage what we have already got and build on what we have developed and what we are developing.”

Mr Murray also said the firm’s simplified business model will help its progress.

He added: “When you get that, you can identify and manage opportunities and any problems much more quickly.”