Chanelle McCoy resigns from board of family pharmaceuticals company
CHANELLE McCoy, who co-founded Chanelle Medical alongside her father Michael Burke, has resigned from her role as director of Chanelle Pharma Group.
McCoy, a Galway native, had been involved with the business alongside her father for nearly 20 years. Last year, the former Dragons’ Den investor said she had taken “a bit of a step back” as she reported struggling to balance work with family life. Chanelle Pharma confirmed McCoy had moved on from the company, as she looked to concentrate her efforts on building her own business in a new sector.
McCoy’s father, Burke, started off life as a vet, before opening a veterinary shop and then getting into manufacturing generic veterinary pharmaceutical products. McCoy later got involved with the business, focusing on human medicines.
Chanelle Group has sales worth more than €100m. Documents registered through the Companies Registration Office show that McCoy set up a group of new companies under the name CMC Pharma in September.
As previously revealed by the Sunday Independent, McCoy’s new group will include a subsidiary based in Loughrea, Co Galway, focused on developing pharmaceutical-grade cannabidiol (CBD). Her new company has also secured the right to distribute SugarWatch, a needle-free glucose monitoring device for diabetics, across the island of Ireland.
It is understood the group set up by McCoy recently changed its name. At the time of writing, no record of this change had been filed with the Companies Registration Office, however.
McCoy, who has also invested in a retail business in the past, is married to well-known jockey AP McCoy.