An international specialty pharmaceutical group, Essential Pharma has announced the completion of two transactions with fellow UK-based Rosemont Pharmaceuticals.
The company completed the divestment of its oral liquid portfolio to Rosemont, and acquired a series of attractive, niche products with “geographic expansion potential.”
Commenting on the announcement, Essential Pharma chief executive Steen Vangsgaard said: “The Rosemont products bring additional niche products into our portfolio with international expansion potential.
“The divestiture of our UK oral liquid products streamlines our portfolio, allowing us to focus and accelerate our strategic growth ambition of building a leading international specialty pharma platform.”
Under the divestment deal, Rosemont Pharmaceuticals will acquire the product portfolio of licences, registrations and trademarks, as well as related commercial rights, to a number of oral generic products which are used to treat a range of conditions in various therapeutic areas.
Essential Pharma’s strategy is focused on becoming a leading international medicines provider.
Rosemont Pharmaceuticals, a UK based manufacturer of medicines, was acquired by Inflexion Private Equity Partners in June 2020.
Rosemont Pharmaceuticals, chief executive officer, Howard Taylor said: “These transactions support Rosemont’s strategy to be a rapid developer, reliable manufacturer and global supplier of patient focused medicines by focusing our current portfolio and expanding the number of products we can supply to patients.”
Cat Smith, Labour MP for Lancaster and Wyre