Clinigen Group is to acquire unlicensed medicines supplier Idis for £225m.
The ethical unlicensed supply market is estimated to be worth in excess of $5bn and upon completion, Clinigen claims it will become the market leader.
Peter George, CEO of Clinigen, commented: “This acquisition satisfies a number of our key strategic goals – achieving market leader position in the $5+billion unlicensed medicine supply sector and strengthening our leading position in the $2 billion clinical trial supply market.
“The acquisition will also accelerate our growth and give us a much better balanced portfolio of businesses, whilst extending our unique business model.”
Idis supplies unlicensed medicines predominantly on an exclusive basis through managed access programmes as well as on demand via its general access division.
George concluded: “The enlarged entity creates an incredibly exciting business with tremendous opportunities for growth. I am confident that, together with Idis, we have the right people to define and shape the unlicensed medicine supply market – an increasingly important health care sector for patients with unmet needs.”