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Latest news from BusinessLive Read in browser by Tom Keighley Fri Oct 28, 2022 BusinessLive Writer Dragons' Den start-up Noveltea is wound up after Covid struggles This week Covid turbulence was blamed for the demise of a much talked about drinks start-up that had earned the backing of investors in

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by Tom Keighley  twitter  Fri Oct 28, 2022

BusinessLive Writer

Dragons' Den start-up Noveltea is wound up after Covid struggles

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This week Covid turbulence was blamed for the demise of a much talked about drinks start-up that had earned the backing of investors in the North East. And it's likely not to be the last casualty of the pandemic, if recent research is anything to go by.


Noveltea was started in 2016 by former Newcastle University students Lukas Passia and Vincent Effroth. The German pair's idea to infuse tea with spirits saw them appear on Dragons' Den, only to turn down investment offered and convert the publicity into their own successful crowd funding campaign. 


Additional backing from German celebrity Dagmar Wöhrl along with venture capital money signalled a serious intent for the business which had its eye on the US market. 


But the failure of one of its largest European customers, mounting cost pressures and changing consumer spending in the wake of Covid left the business struggling and liquidators were called in this month. Read more on the story here.

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Sterling Pharma Solutions sees profits and sales soar in year of investments and job creation

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Meanwhile, Covid has been a driver of growth in the UK pharmaceuticals sector. In Cramlington, contract manufacturer Sterling Pharma solutions has seen huge revenue growth and profits to match on the back of new client wins.


This week, the specialist maker of life saving medicines for the global market told Coreena Ford that it was motoring on with an investment programme that has boosted numbers at its North East site to 650 - with more recruitment in the works. 


And later this year, the firm is also expecting to complete the acquisition of the 111-acre Novartis Ringaskiddy campus near Cork in Ireland. The purchase will mean Sterling employs more than 1,000 people across its UK, Europe and US facilities. Read Coreena's story here.

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10 questions for Steve Horn of Black and White Engineering

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Black and White provides mechanical, electrical and public health design and consultancy services to the global construction industry. Here, director Steve Horn tells us about the little known business role model he looks up to as he answers our questions.

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120 jobs created by consultancy Fusion for Business in North scale-up plans

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North East tech innovator Honcho collapsed with £4.87m deficiency, documents show

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