Sterling Pharma Solutions commences the production of potential COVID-19 treatment
11 May 2020
London, UK – Global Healthcare Opportunities, or GHO Capital Partners LLP, the European specialist investor in healthcare, acknowledges the announcement from its portfolio company, Sterling Pharma Solutions, regarding the commencement of the production of potential COVID-19 treatment.
Global Contract Development and Manufacturing Organisation (CDMO), Sterling Pharma Solutions, has commenced production of hydroxychloroquine (HCQ), a treatment currently under investigation for COVID-19.
Sterling will be manufacturing the active pharmaceutical ingredient (API) with the finished product being manufactured and supplied by Accord Healthcare.
The UK’s current supply of HCQ is sourced from overseas, primarily as a result of economic pressures driving production to lower cost manufacturing regions. This new deal with Accord will establish a domestic supply of the product ensuring access for patients in the UK, should the drug prove successful.
Kevin Cook CEO at Sterling Pharma Solutions said, “While it is currently unclear whether HCQ will be a viable treatment for COVID-19, it is vital to proactively establish a strong supply route ahead of time.
Rapid response to a rapidly changing landscape has been key here. We have worked quickly alongside Accord Healthcare to establish a UK supply chain for this product.
HCQ could potentially provide an effective treatment for COVID patients and during such an unprecedented time it’s important that the pharmaceutical industry works flexibly to achieve maximum results as quickly as possible and this partnership is a good example of that.”
Sterling has already supported Accord with the purchase of over 50 tonnes of the key raw materials, which equates to roughly 60 million finished tablets of HCQ.
As a result of the partnership Accord expects to supply up to 50 million HCQ tablets per month and has already started production of HCQ from its manufacturing facility in Barnstable, UK.
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About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities in Europe, building market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to unlock value in a global system that demands the delivery of better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.
About Sterling Pharma Solutions.
Sterling Pharma Solutions is a global contract development and manufacturing organisation with world-class facilities in the UK and US. Combining a full-service offering with expert knowledge and technical agility to offer API development and cGMP contract manufacturing capabilities the team can support projects through the entire product lifecycle from grams to tonnes. With over 50 years’ experience of delivering first-class service to the pharmaceutical industry the exceptionally talented team combine their unrivalled knowledge and skillset with first-class customer service to ensure high quality project delivery, every time. The Company is based in Northumberland, UK. For more information, please visit www.sterlingpharmasolutions.com.