NORBROOK LABORATORIES is unveiling a product today which it claims could be a major advance in farm-animal veterinary medicine and a potential multimillion-pound earner for the Newry company.

The privately owned Co Down company spent six years and £3.5 million (€3.97 million) developing the product, and it believes it could “revolutionise cattle farming”.

A team of 80 scientists at Norbrook’s Newry headquarters devised the new solution.

The product is designed to help farmers fight the problem of parasites in meat producing animals.

Norbrook estimates the global market for parasitic medicines for cattle is worth in the region of $1 billion (€703 million).

Norbrook claims its new Closamectin Pour-on solution can for the first time simultaneously treat fluke, worms and external parasites.

Fluke, one of the biggest problems for farmers with beef and diary herds, is traditionally treated by injection or oral drench.

However, such approaches are time-consuming and difficult for farmers and stressful for animals.

Norbrook chairman Edward Haughey said the product was a milestone not only for Norbrook but also for farmers.

“We have invested heavily in research and development and the results are there for all to see,” he said. “I am pleased to state that our business has grown this year indigenously at 12 per cent despite the recession, beating our competitors.

“This tremendous breakthrough is a great testimony to the brilliance of our scientists in Newry and also to our policy of investing in research.”

Norbrook has been awarded licences for its latest product in Britain and Ireland, where there is an estimated cattle population of 17 million.

It also plans to roll out the product in other countries.

Norbrook Laboratories was established in 1968 by Mr Haughey.

The company employs 3,500 people internationally and 1,200 in the North.

It has manufacturing facilities on four continents and sales and marketing operations in more than 30 countries.