Northumberland-based unlicensed medicines manufacturer The Specials Laboratory has been acquired by Professional Compounding Centres of America Inc (PCCA) as part of a transaction valued at €28.3m, or £23.5m.
Drug distributor UDG Healthcare has sold the business, which is headquartered in Prudhoe, Northumberland, and employs 130 people, along with ‘specials’ drug supplier Craig & Hayward and healthcare company Arjun Products.
The Specials Laboratory manufactures and distributes ‘specials’ - drugs prescribed when a patient needs a specific formulation that is not available as a standard licensed medicine.
The award-winning manufacturer has three MHRA-licensed sites and works with thousands of pharmacists across the UK, delivering life-saving drugs in just 24 hours.
Sharon Griffiths, managing director at The Specials Laboratory and Craig & Hayward, said: “We are very pleased to have become part of the PCCA family and this announcement heralds a very exciting era for our customers and our staff.
“With tough market conditions in specials over the last few years, we have broadened our service offerings to create a much stronger and sustainable business model that was no doubt a major factor in PCCA’s decision to purchase our business.
“PCCA bring years of experience of compounding products and services so will no doubt add a great deal of value to our company. Furthermore, there is a great cultural fit between the companies that will only make us stronger moving forward.
“PCCA already has a significant presence in the USA, Canada and Australia and has long held the ambition to serve customers around the world.”
The move comes have after a recruitment drive at the Specials Laboratory that saw its staff numbers rise to around 130.
The firm has also completed an of investment into new chemistry facilities and laboratory space at Prudhoe.