Martindale Pharma® Acquires Viridian Pharma
News Jul 15, 2016
Martindale Pharma has announced it has completed the acquisition of Viridian Pharma. Although financial terms were not disclosed, the acquisition will be immediately accretive to earnings. This acquisition is part of Martindale Pharma’s strategy to expand its product portfolio and actively support further growth of its hospital-initiated medicines product range. Viridian Pharma has developed five products all of which have regulatory approval in the UK and represent first-to-market specialty hospital-prescribed medicines.
The product portfolio consists of caffeine citrate injection and caffeine citrate oral solution for apnoea of prematurity in pre-term babies, sodium chloride oral solution for correction of hypernatremia in infants, sodium citrate oral solution for the prevention of respiratory complications in women undergoing caesarean sections and peppermint water for symptomatic relief of minor upper digestive complaints.
Martindale Pharma has been working with Viridian Pharma to manufacture and market the two key caffeine citrate products, and has built a strong market share of the neonatology or Special Care Baby Units in the UK over the past 10 years, exclusively using the Martindale/Viridian caffeine citrate range. Viridian Pharma will be immediately combined with Martindale Pharma’s existing growing business, which has an established UK and international footprint.
Michael Harris, Chief Executive Officer of Martindale Pharma, commented: “Martindale Pharma’s strategy is to build leading positions in defined business segments where there is a high unmet medical need and a demand for improved product presentations. This acquisition enables us to expand and strengthen our product range of essential medicines. Viridian has created a portfolio of valuable products which are a very good fit for our hospital-initiated medicines portfolio and can be marketed through our UK organisation as well as our international partner network.”
Mike Lanning, a founder director of Viridian Pharma, added “Through the successful collaboration on our caffeine citrate range, Martindale Pharma has demonstrated the capability to ensure these important medicines are preferentially used in vulnerable patients. We are delighted that such a strong business partner has acquired the company and will support and develop the product range into the future.”
PhoreMost and Plexxikon Collaborate to Identify Novel Drug TargetsNews
PhoreMost, the UK-based biopharmaceutical company dedicated to drugging ‘undruggable’ disease targets, today announced it has signed a collaborative agreement with Plexxikon Inc., the small molecule structure-guided R&D centre of Daiichi Sankyo.READ MORE
Lonza Opens World’s Largest Dedicated Cell-and-Gene-Therapy Manufacturing Facility in TexasNews
First-of-its-kind, state-of-the-art manufacturing facility with capacity to produce treatment for thousands of patients suffering from rare genetic disorders or life-threatening diseases.READ MORE
IONTAS and IGEM Therapeutics Collaborate to Identify Novel IgE AntibodiesNews
The project will add to IGEM’s pipeline of drugs and expand upon IGEM-F, an IgE targeting ovarian and other cancers, currently in a Phase 1/2a study.READ MORE
Comments | 0 ADD COMMENT
World Congress on Advanced Biomaterials and Tissue Engineering
Jun 20 - Jun 21, 2018