Aspire Pharma has bought Morningside’s pharmaceutical and healthcare divisions, as well as their subsidiaries for an undisclosed sum.
The deal cements an ongoing post-pandemic trend of consolidation within the pharmaceutical and healthcare sectors.
Morningside’s boss Tim Brady added that the deal will give Aspire access to over 120 mid and late-stage programs.
Chief executive officer of Aspire, Richard Condon, called the deal a “transformative opportunity” for both firms as they seek to strengthen their market position.
“The combination will create one of the largest and fastest growing UK pharma companies,” he added. “And see further accelerated growth potential in our current and future product portfolio, in the UK and internationally.
Morningstar’s healthcare business operates in both the UK and in India, which positions Aspire well to make gains in the South Asian country.