London based mid-market firm Inflexion has acquired New York-listed Perrigo’s drug manufacturing subsidiarity Rosemont Pharmaceuticals to undisclosed sum.
Rosemont Pharmaceuticals aims to focus more on new product development and geographic expansion, the company said in a statement on the latest transaction.
Rosemont is known for its liquid medicines with a portfolio of over 130 oral liquid medicines which includes over 70 licensed products.
It has 50 years’ experience and an extensive range of both licensed products and specials within the UK.
Howard Taylor, who has been appointed CEO of Rosemont Pharmaceuticals following the sale, said: “We’re extremely pleased to be able to announce this exciting new chapter for Rosemont. As a very well established, and much respected supplier in the industry, we look forward to being able to provide an even wider range of quality products in the future.”
Simon Turner, Managing Partner at Inflexion, added: “We are delighted to be partnering with Rosemont on their journey to become an independent business.
“Our experience in carving businesses out combined with our success in growing healthcare businesses make us confident our partnership will be an excellent foundation for further innovation and new product development.”
Rosemont specializes in developing and producing oral liquid drug formulations for patients who have difficulty in swallowing tablets.
The company’s products include antidepressants, diuretics, along with drugs to treat Parkinson’s disease and breast cancer.
Rosemont’s product range in the UK also includes eight products licensed for use with PEG/NG tubes.
Based in Leeds, the company has 200 employees and produces four million bottles of medications per year.
Rosemont’s oral liquid medicine portfolio is being distributed through the UK, the US, continental Europe and the Middle East.