Watford Observer

Business Awards 2007

Sigma Pharmaceuticals was named business of the Year at the Watford and North West London Business Awards. Managing director Bharat Shah is pictured with his wife, Jayoti. Click here for more pictures and to order online

THE founder and managing director of Sigma Pharmaceuticals, Bharat Shah, proved he has the formula for success when his company was named Business of the Year at the Watford and North West London Business Awards.

More than 200 high-fliers from the world of business, commerce, marketing and law attended the awards finals which were hosted by BBC business news editor Declan Curry at Arsenal’s Emirates Stadium.

Curry joked that that the business awards were the only trophies being handed out at the Arsenal ground this year, such was their disappointing season.

Announcing Sigma as winner of the RBS Business of the Year category, the success was likened to winning the UEFA Champions League final.

Shah’s Sigma Pharmaceuticals began life as a single chemist shop in St Albans Road, Watford, more than 30 years ago.

Today the company turns over almost £200 million a year and Shah’s empire is based on the supply of generic medicine – copycat versions of drugs produced after the expiry of patent – and in parallel imports, buying patented drugs in countries such as Spain, where wholesale prices are much lower, and repackaging them for the home market.

It is the same chemical compound, usually produced in the same factory; only the price is different.

When Bharat Shah and his wife took to the stage to collect their award, Curry prescribed wild applause and his audience gladly obliged. The business awards competition is now in its seventh year and, as well as RBS/NatWest group, is sponsored by a host of other blue chip companies including SA Law, BDO Stoy Hayward, Alliotts chartered accountants, the University of Hertfordshire, Coutts and Lombard.

Entries are assessed by a panel made up from the sponsors and independent judges from Watford Chamber of Commerce and Wenta Business Services.

Other winners and runners-up in this year’s competition were:

Innovation: Imagination Technologies; Runners-up: Link Research, London Auto Parts, Masters International and Sennova Dental.

Growing Business: Optoma; Runners-up: Imagination Technologies, Sigma Pharmaceuticals, Freedom Communications, Hair on Broadway.

Entrepreneur: Gary Penning of Penning Auto Repairs; Runners-up: Nigel Trotman from Nigel Fredericks, Zuff Masters from Masters International, Tony Cleary from London Auto Parts and Jeremy Harbour from Unity Group.

Small Business: Nigel Fredericks; Runners-up: Unity, Clock, Bricklayers Arms.

Success Through People: Clock; Runners Up: Aitchison Rafferty, Sennova Dental and Woodmansterne.

International Trade and Export: Link Research; Masters International, Optoma, Business Direct.

Best New Graduate in Business: Chris Rogers of iRegulatory Ltd; Runners-up: Helena Connolly of Premier EDA Solutions and Russell Fenner of TES Consulting Ltd.

Don’t miss the Watford and North West London Business Awards souvenir supplement free with the Watford Observer on Friday, July 20. To view pictures from the night or to order copies visit our web site at www.watfordobserver.co.uk/ photosales.