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Aspire completes acquisition of Cenoté Pharma Ltd

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Aspire completes acquisition of Cenoté Pharma Ltd

The pharmaceutical company Aspire has completed its acquisition of Cenoté Pharma Ltd which manufactures medicines that treat rare metabolic disorders.

No terms of the financial agreement were disclosed by either party but generic drug-maker Aspire, which specialises in anti-infectives, central nervous system, dermatology, gastroenterology, oncology, ophthalmology, respiratory and urology, said the deal will add carnitine deficiencies to its list of therapy areas.

Cenoté Pharma is a category specialist in carnitine deficiency, a condition where the nutrient cannot reach the body's cells. Carnitine is an amino acid derivative whose insufficiency can impair the metabolism of essential tissues of the liver, heart and muscles.

“We are excited to bring an additional therapy area into our portfolio at Aspire. This acquisition underscores our commitment to advance the science and treatment options for vulnerable patient groups,” said Aspire chief executive Richard Condon.

“The company is also looking to gain regulatory approval in multiple global markets in the near future.”

Cenoté Pharma managing director Keith Williams said: “We are delighted to be supporting Aspire as we integrate these important molecules into the Aspire portfolio, to ensure continuity of care for this important group of patients.”

Aspire said it was expanding “its presence in continental Europe” and “actively seeking bolt-on acquisitions across Germany, Spain and Nordic region as well as partnerships with pharma companies on both in-and out-licensing opportunities.”

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