GHO Capital Buys Sterling Pharma Solutions
London, UK-based GHO Capital, a specialist investor in the healthcare sector, has acquired a majority stake in Sterling Pharma Solutions, together with the management team, for an undisclosed sum.
Headquartered in Newcastle upon Tyne, UK, Sterling is a specialist provider of complex API development and manufacturing services to the global biopharmaceutical industry.
“We are delighted to partner with GHO Capital, whose expertise in the pharmaceuticals space and track record of supporting companies expand internationally will be invaluable in facilitating the next stage of our growth in Europe and in the US,” said Sterling’s CEO, Kevin Cook.
According to Sterling, outsourced small molecule API development and manufacturing is growing at an annual rate of around 7%. At the same time, the company noted a long-term trend toward increasing molecule complexity, which is driving higher market growth rates in complex chemistry, where Sterling regards itself as an industry leader in Europe.
To meet the rising demand for outsourcing, Sterling invested £6 million last year at its pilot plant in Dudley, northeast UK, to enhance its scale-up and small-to-mid-scale commercial API manufacturing capabilities.
The company added three reactor trains to its cGMP facility, lifting capacity by 33% and enabling Sterling to offer API batch sizes in the range 10-100kg. Sterling also added a range of new capabilities to expand its handling of potent compounds across a range of equipment scales.
