In the midst of figures claiming that around 2,000 children are admitted to hospital every year after accidentally overdosing on painkillers, the `Child Resistant Senior Friendly' legislation for the pharmaceutical industry in relation to certain drugs dispensed or sold in blister packs became compulsory in the UK in October 2005.
3 Point Blue of Tunbridge Wells, Kent, UK, began commercialisation of its "Pill protect" products in September 2005 following three years of development in order to satisfy the legislation and address BS 8404 and BS EN 14375. Currently, the company has secured contracts for around nine million packs a year and is dealing with "three major pharmaceutical companies". It is also preparing for listing on London's Alternative Investment Market (AIM)), which chief executive Jonathan Bobbett says will add to the company's credibility and "allow us to pursue sales prospects in Europe with added confidence".
On 26 May 2006 Euro Investment Fund (EIF) signed an agreement to acquire the 82.5% of 3 Point Blue that it does not own for £1m. EIF is also planning to place 77,333,333 new ordinary shares at 1.5p each as it looks to raise around £1.16m to use in the launch of Pill protect in the European market and help 3 Point Blue reach its goal of a 10% market share in the UK.
The directors of 3 Point Blue put the rapid success of the product down to its "simplicity as a concept". Specially perforated paper, the perforations on which can be adjusted to alter the degree of child resistance, covers the usual foil base on blister packs and make the surface hard to leverage, but still weak enough to allow access by senior citizens. The product also provides a print-friendly surface for branding and dosage information.
The company is discussing deals with a number of other international companies and is confident of securing orders this calendar year, although it does not expect turnover to show signs of the company's progress until 2007.