Aspire Pharma creates the UK’s premier speciality pharma company
Aspire Pharma, a UK-based life sciences business, has announced the successful completion of its acquisition of Morningside Pharmaceuticals (Loughborough), Morningside Healthcare (Leicester) and Morningside Healthcare (India); privately owned, speciality generic pharmaceutical organisations.
Morningside delivers Aspire added talent, increased in-market range, and an industry leading pipeline, complementary to Aspire’s. The acquisition establishes Aspire as the premier Speciality Pharma organisation in the UK, with new opportunities to support international growth ambitions.
Aspire is present in the generics, speciality generics, branded medicines, and medical device sectors. Aspire’s investors include founder Graham Fraser-Pye; Juno Pharmaceuticals, a global pharma specialist organisation spanning four continents, focusing on niche differentiated products; and H.I.G. Capital, a leading global alternative investment firm with over $50 billion of equity capital under management.
“We are excited to welcome the Morningside team to the Aspire family. This is a transformative opportunity for both companies to expand and enhance our position as a result of both companies highly complementary product portfolios. The combination will create one of the largest and fastest growing UK pharma companies and see further accelerated growth potential in our current and future product portfolio, in the UK and internationally. Our commitment remains with our team, patients, and our partners in the NHS and beyond, to ensure a smooth integration of businesses,” said Richard Condon (pictured left), Chief Executive Officer of Aspire Pharma.
“Aspire’s acquisition of Morningside is validation of the long-term growth plan that the shareholders and management of Morningside Pharmaceuticals and Morningside Healthcare have developed over the past 30 years. The combined company will benefit across several areas, including the realisation of enhanced business development capabilities with over 120 complementary mid and late-stage programs,” said Tim Brady (pictured right), Chief Executive Officer, Morningside.
The respective organisations will continue to operate as standalone businesses until further integration and transition announcements are made. No terms of the financial agreement were disclosed.
