Tue, 25 Feb 2025 | BUSINESS SALE
Kelso Pharma has bought UK peer Alturix Holdings as it continues its European expansion strategy.
The deal is the third acquisition made by Kelso, the specialty pharma business backed by healthcare specialist private equity investor Apposite Capital.
According to Kelso, the two firms share the complementary philosophy of supplying branded specialty medicines that provide patient benefits and a reduced cost burden to the NHS. The origins of Alturix, based in Milton Keynes, can be traced back to 1998 and the acquisition of three branded products from Novartis by HK Pharma. In 2020, Alturix was formed following the acquisition of two family-owned pharma businesses – HK Pharma, and Atlantic Pharma.
Alturix now has seven branded medicines in the UK market, based in the therapeutic areas of central nervous system, respiratory disease, and endocrinology, which drive double digit topline revenue growth. A further two pipeline products in the Alturix portfolio will launch in the next 12 months that will expand the Kelso portfolio of 11 products in the UK market.
All of Alturix's staff are expected to remain with the business post-acquisition. Alturix's co-founders will work with the Kelso team to ensure a smooth transition and maintain continuity of supply of medicines to patients.
Kelso's existing portfolio of products are marketed through its existing businesses, Stirling Anglian Pharmaceuticals based in Scotland and bought in 2022, and Velit Biopharma located in Italy, which it bought in 2023.
Kelso said the transaction marks a significant step towards its vision of building a specialty pharma business of scale in the UK and ultimately across Europe.
"Our aim has always been to build a specialty pharma business that puts patients first and, in Alturix, we have found a complementary business that shares our philosophy of improving the lives of patients in a cost-effective and ethical way. This is a milestone acquisition for Kelso Pharma, doubling the size of our UK business and building a pharma company of scale," said CEO Dr Tom Stratford. "The Kelso platform is now positioned for further international growth as we seek to expand the markets for Alturix's products, as well as enhancing Kelso Pharma's position as a partner of choice for other pharma businesses and innovative products."
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