Key Highlights:
- Aspire Pharma Limited announces the further strengthening of its dermatology portfolio through the acquisition of all assets from Canute Pharma Limited.
- The asset transfer will provide significant opportunities to grow Aspire's position in the UK through new therapy categories.
- Aspire will acquire the distribution rights for differentiated products in haptens and test chambers for patch testing in the diagnosis of contact dermatitis, as well as a topical antibiotic gel for the treatment of acne.
Aspire Pharma Limited, a high growth UK-based specialty niche generics business, announces the further strengthening of its product portfolio through the acquisition of all assets from Canute Pharma Limited.
The asset transfer will enhance Aspire's existing dermatology portfolio, as well as provide significant opportunities to grow position in the UK through new therapy categories.
As part of the transaction, Aspire will acquire the distribution rights for differentiated products in haptens (allergens) and test chambers for patch testing in the diagnosis of contact dermatitis (contact eczema).
The acquired assets also include a topical antibiotic gel for the treatment of acne, as well as a number of ‘special’ products focused on meeting the needs of individual patients.
Richard Condon, chief executive officer of Aspire, said: “We are delighted to announce the asset purchase from Canute Pharma. It brings a number of innovative products, which will strengthen our commitment to providing high-quality skincare solutions to patients, as well as open-up some opportunities for new areas of growth in the UK and other geographic territories.
“We now look forward to integrating these differentiated product lines, which offer a synergistic fit, into our portfolio. This further supports our commitment to addressing the unmet needs of patients, while delivering true value to healthcare professionals, payors and the NHS.”
As part of the asset purchase, Canute Pharma’s facility in Knutsford, Cheshire, UK, will transfer to Aspire as the main distribution hub for some of the pre-existing portfolio.
Richard Anderson, owner and director of Canute Pharma, said: “We are pleased to complete the asset sale with Aspire Pharma, which provides consistency for existing distribution arrangements, as well as a good fit in terms of shared values and therapeutic focus that will help continue to improve patient access to essential treatments.”
*Based on total capital raised by H.I.G. Capital and affiliates.