(Sharecast News) - Pharmaceutical company Clinigen has agreed the disposal of its non-core UK specials manufacturing and aseptic compounding business to Target Healthcare for up to £7.75m.
The compounding business sourced and manufactured specific unlicensed medicines referred to as 'specials' in a range of formulations for supply across the UK market and had been part of Clinigen since it bought Quantum Pharma in 2017.
Clinigen said the deal will will include the transfer of two UK facilities in Burnopfield and Follingsby, and 198 employees. It added that the acquisition of Quantum Pharma was made primarily for its 'unlicensed-to-licensed' capability, which it will hold on to.
Chief executive officer Shaun Chilton said: "We have continued to simplify our offering across the lifecycle platform and are fully focused on serving the needs of patients, healthcare professionals and pharmaceutical companies, from clinical trials through to commercialisation and beyond.
"The UK specials and aseptics offerings are important for patients in the UK with unmet medical needs. Whilst non-core assets to Clinigen, we are pleased that those patients will continue to receive the focus and drive they need from Target Healthcare."
10 Oct 2019 10:50
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