Partner Article

Aesica swoops for European firm

PHARMACEUTICAL giant Aesica has acquired a European research and development firm, as the fast-growing Newcastle company continues its expansion at home and abroad.

The £100m-a-year firm has made its third acquisition since 2006 by snapping up Nottingham-headquartered R5, which has a strong European presence as well as customers in Japan, Korea and the US.

Aesica said the takeover would enhance its portfolio of pharmaceutical and biotechnology clients.

The deal follows the recent opening of new offices in San Diego and New York and comes on the back of a five-year period of rapid growth as its turnover has soared from £25m to £100m.

It currently employs around 700 people across it headquarters in Newcastle, manufacturing plants in Cramlington, Queenborough and Ponders End and offices in the US and China.

Chief executive Robert Hardy said the acquisition was crucial for the business as it extends its current offering.

He said: “We are hoping to harness the exceptional expertise and knowledge across the team at R5 to facilitate our continued expansion and to achieve our vision of becoming the leading supplier of active pharmaceutical ingredients and formulated products to the global pharmaceutical and biotechnology industries.”

R5, which develops and manufactures new medicines and clinical trial materials, will retain its current brand it will become a subsidiary of Aesica Pharmaceuticals and key members of the Aesica team will join the Board at R5.

This was posted in Bdaily's Members' News section by Ruth Mitchell .