30th Jun 2021 10:59
(Alliance News) - Clinigen Group PLC on Wednesday announced the sale of its non-core UK Specials manufacturing and Aseptic compounding business to pharmaceutical wholesaler Target Healthcare Ltd for GBP7.8 million in total.
The compounding business sources and manufactures specific unlicensed medicines known as "specials" in a range of formulations to be supplied across the UK. The sale will include the transfer of two facilities in Burnopfield, Durham and Follingsby Park, Gateshead, as well as 198 employees.
Specials are a category of unlicensed medicines that are manufactured specifically to meet the special needs of an individual patient.
The disposal reflects a simplification of the Staffordshire-based pharmaceuticals and services provider's structure, which will now be focused on its two core divisions, Services and Products.
"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," said Chief Executive Officer Shaun Chilton.
"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," Chilton added.
Shares in Clinigen were down 1.1% at 631.00 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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