An Irish company has developed a super aspirin that produces no side effects in the human body. The drug itself could potentially make hundreds of million of dollars for its developers.
The company, called Solvotrin Therapeutics, is located in Cork and hopes to create 100 jobs over the next three years. Solvotrin expects the "super aspirin" to be officially regulated within the next two years and hopes to hit $665million in sales by 2020. A common side effect with aspirin is gastro-intestinal bleeding, but the "super aspirin" will eliminate that side effect.
"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," said the co-founder of Solvotrin, Pat O'Flynn.
Aspirin is one of the most popular non-prescription drugs in the world. Up to 100 billion aspirin tablets are produced each year and the market has an annual net worth of $14 billion.
Dr. John Gilmer has been working on the "super aspirin" for over ten years. Gilmer was able to deactivate the aspirin to protect the wall of the stomach, which prevents ulcers, then activate it later using enzymes that are naturally present in the bloodstream.
"In this way, the drug maintains its therapeutic qualities, without the damaging gastrointestinal side effects," said Gilmer.
O'Flynn is currently in talks with large multinational pharmaceutical companies about producing and distributing the drug on a large scale. He said that any jobs created through the production of the job would be done so 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," said Gilmer.
Solvotrin has spent $1.35 million on drug research and they are "very confident" that the drug to be approved by pharmaceutical regulators.
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