Burton pharma giant makes £150m acquisition
Burton-based Clinigen Group is set to buy Newcastle-based Quantum Pharma for £150.3m.
Clinigen says that Quantum’s capabilities in Continental Europe will enable it to develop and further expand its European footprint.
Shaun Chilton, chief executive of Clinigen, said: “The earnings enhancing acquisition of Quantum is an excellent operational and geographical, as well as cultural, fit with Clinigen.
“Quantum’s UL2L capabilities will provide a bridge between our unlicensed and commercial businesses, mirroring our business in the AAA region. Quantum’s expertise in this area will enable us to boost our global UL2L ambitions.
“Quantum also provides a European presence whilst our international footprint can immediately provide the global reach for Quantum’s generic licensed products.
“With the addition of Quantum, we will be in a stronger position to drive our global expansion in the unlicensed and commercial medicine markets.”
Chris Rigg, chief executive of Quantum added: “The Quantum Board believes the strategic fit of the two Groups is strong.
“As part of the Clinigen Group, Quantum will be able to drive faster strategic growth and gain immediate access to international markets that will complement our existing product portfolio, provide additional routes to market for our development pipeline and accelerate the Group’s strategic plan.
“The combination of Quantum’s UL2L development capability and Clinigen’s geographic reach provides a real opportunity for the Enlarged Group to become the leading global UL2L business significantly more quickly than Quantum could as an independent entity whilst at the same time balancing the underlying market risks we face as a business.
“The Quantum Board is excited by the prospects of the enlarged Group and Quantum’s role in it.”