14 November 2008
One of the region’s leading pharmaceutical firms, The Specials Laboratory, today announces the completion of a buy-out deal by United Drug plc.
The £20.1 million acquisition, handled by local advisers Muckle LLP and Tait Walker, comes as The Specials Laboratory officially de-merges from sister company SCM Pharma Ltd (formerly Specials Clinical Manufacturing.
Manufacturing unlicensed medicines, known as ‘specials’, for retail pharmaceutical and hospital markets, the Prudhoe-based company has enjoyed enviable growth since it was founded by business partners Fiona Cruickshank and Brian Dougherty in 1999.
The jobs of all 120 staff that work across its three MHRA approved sites have been secured under new owners United Drug plc which will continue with ambitious growth plans to further establish The Specials Laboratory as a market leader in the UK specials manufacturing market.
The de-merger and sale of The Specials Laboratory comes as the founding duo concentrate on the global expansion of SCM Pharma which offers a vast array of bespoke contract outsourced solutions, including sterile and non sterile manufacturing, development and clinical packaging, for the entire drug development market.
Managing Director of SCM Pharma Ltd, Fiona Cruickshank, commented: “Today marks a very important landmark and after almost ten years we felt it was the right time to de-merge the two companies. We’ve built up a highly successful, profitable and self sustaining business in The Specials Laboratory, and with a truly outstanding senior management team, we know it will continue to excel in the specials market.
“We now want to focus our efforts on SCM Pharma and capitalise on the high growth opportunities presented by the global pharmaceutical, bio and healthcare markets.
“Since the company’s inception in 2004, we have prided ourselves on our revolutionary approach to clinical manufacturing by offering companies of all sizes the opportunity to use our specialist expertise right here in the North East, to develop and trial drugs and ultimately see them through to commercialisation.”
SCM Pharma is a leading light in the region’s burgeoning science and technology sector. Housed in a 17,000 sq ft purpose built facility offering some of the most advance cleanroom facilities in the UK, the expansion of the business presents a real coup for North East.
Last month SCM Pharma officially launched two new services, ‘radiopharma’ and ‘biologicals’, at the International Contract Service Expo (ICSE) in Frankfurt, Germany, and has already reported an overwhelming response.
Fiona added: “Our aim for SCM Pharma is simple; we want to firmly establish the business on a global scale and encourage people to look to us, and the North East, as a centre for excellence for technical expertise. Most importantly, we want to provide our clients with clinical and commercial manufacturing services that will add value to their business.”
ENDS
Media contact:
Liz Davies
Golley Slater PR
0191 233 9062
liz.davies@golleyslater.co.uk
The £20.1 million acquisition, handled by local advisers Muckle LLP and Tait Walker, comes as The Specials Laboratory officially de-merges from sister company SCM Pharma Ltd (formerly Specials Clinical Manufacturing.
Manufacturing unlicensed medicines, known as ‘specials’, for retail pharmaceutical and hospital markets, the Prudhoe-based company has enjoyed enviable growth since it was founded by business partners Fiona Cruickshank and Brian Dougherty in 1999.
The jobs of all 120 staff that work across its three MHRA approved sites have been secured under new owners United Drug plc which will continue with ambitious growth plans to further establish The Specials Laboratory as a market leader in the UK specials manufacturing market.
The de-merger and sale of The Specials Laboratory comes as the founding duo concentrate on the global expansion of SCM Pharma which offers a vast array of bespoke contract outsourced solutions, including sterile and non sterile manufacturing, development and clinical packaging, for the entire drug development market.
Managing Director of SCM Pharma Ltd, Fiona Cruickshank, commented: “Today marks a very important landmark and after almost ten years we felt it was the right time to de-merge the two companies. We’ve built up a highly successful, profitable and self sustaining business in The Specials Laboratory, and with a truly outstanding senior management team, we know it will continue to excel in the specials market.
“We now want to focus our efforts on SCM Pharma and capitalise on the high growth opportunities presented by the global pharmaceutical, bio and healthcare markets.
“Since the company’s inception in 2004, we have prided ourselves on our revolutionary approach to clinical manufacturing by offering companies of all sizes the opportunity to use our specialist expertise right here in the North East, to develop and trial drugs and ultimately see them through to commercialisation.”
SCM Pharma is a leading light in the region’s burgeoning science and technology sector. Housed in a 17,000 sq ft purpose built facility offering some of the most advance cleanroom facilities in the UK, the expansion of the business presents a real coup for North East.
Last month SCM Pharma officially launched two new services, ‘radiopharma’ and ‘biologicals’, at the International Contract Service Expo (ICSE) in Frankfurt, Germany, and has already reported an overwhelming response.
Fiona added: “Our aim for SCM Pharma is simple; we want to firmly establish the business on a global scale and encourage people to look to us, and the North East, as a centre for excellence for technical expertise. Most importantly, we want to provide our clients with clinical and commercial manufacturing services that will add value to their business.”
ENDS
Media contact:
Liz Davies
Golley Slater PR
0191 233 9062
liz.davies@golleyslater.co.uk
