M&A

Pharmaxo has announced that it is joining Icon Group as part of a strategic partnership intended to establish a global compounding operator as well as to allow Icon to enter the UK market.

Icon is an ‘operator of integrated cancer care centres throughout Australia, South East Asia and the UK and owner of Slade Health, a specialist compounding operator across Australia and New Zealand’, according to the company’s press release. While Pharmaxo is a ‘leading pharmaceutical specialist manufacturer (Bath ASU) and clinical homecare provider (Pharmaxo Healthcare), based in Corsham, Wiltshire’.

Chris Watt, executive chair of Pharmaxo Group, commented: “For 20 years Bath ASU has been at the heart of the UK compounding sector through shaping the development of chemotherapy dose banding, establishing validated technical training delivered at universities and setting out the standards the NHS now uses to assess the stability of complex biological medicines. We are now at a stage where global scale matters. We believe we can achieve more, and can continue to shape our industry, by joining forces with Icon Group.” 

Mark Middleton, Icon Group’s chief executive officer, added: “Welcoming Pharmaxo to Icon Group reflects our ongoing commitment to improving access to world-class healthcare in the UK. Cancer rates continue to rise and there is a significant need to increase manufacturing of cancer drugs to address growing care gaps. Pharmaxo has built a solid foundation for growth. Combined with Icon’s strong 60-year track record in pharmaceuticals and sterile compounding under the Slade Health brand, together we will continue bringing the latest drugs to where people need them in the UK, eliminating unnecessary travel and ensuring timely access to life-saving medications.” 

Ian Muir, Pharmaxo Group CEO, concluded: “Icon and Slade share our commitment to quality customer service and patient-centred care. Their extensive experience and reputation reflect a true dedication to the highest quality manufacturing of specialised pharmaceuticals. Icon has a strong growth pipeline in the UK and Europe, and we look forward to being part of this vision and improving access to medications across the country.”