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Group at a Glance

Who We Are

A leading global Contract Development & Manufacturing Organisation (CDMO), providing advanced delivery technologies, formulation and manufacturing solutions for drugs

We offer customers a single source for drug and device development, formulation, manufacturing and fill/finish, from two integrated operating divisions:


Bespak — Devices

  • A global market leader in the development and manufacture of premium drug delivery devices, serving pharmaceutical companies with inhaler, auto-injector, nasal and ocular technologies and development and manufacturing services
  • Premium capabilities in the manufacture of more than 500 million devices per year in regulated markets
  • One of only a handful of operators globally who have the know-how and expertise to consistently deliver above Six Sigma quality for high volume medical components and devices

Aesica — Drugs

  • A leading pharmaceutical CDMO serving pharmaceutical companies with API and finished dose formulation development and manufacturing services
  • Offers a full service, end-to-end pharmaceutical development and manufacturing solution
  • The only independent CDMO with semi-continuous manufacturing capabilities
  • An established multi-location CDMO with a strong regulatory track record


  • The Group’s customers include some of the world’s largest pharmaceutical companies
  • Significant product invention and development resources in R&D including a separate Innovation team in Cambridge
  • High barriers to entry: heavily embedded customer relationships, intellectual property, know-how, regulatory approvals, manufacturing complexity and economies of scale
  • Robust finances: profitable, cash generative, low gearing and well supported dividend

Our Competitive Advantage

The Group has an established competitive advantage:

Long-term, Heavily Embedded Customer Relationships

  • Consort Medical has a 50+ year track record of partnering with many of the world’s largest pharmaceutical companies in providing innovative life improving treatments.
  • A long history of global supply with a track record in building strong partnerships; good customer service with established customer relationships and a diverse customer base.
  • The drug/device development, formulation and manufacturing services which Consort Medical offers its customers typically have long life cycles.
  • Pharmaceutical customers invest significant resources in launching, marketing and building their treatment franchises which often have high rates of repeat prescription.
  • Typically, Consort Medical is heavily embedded in its customers’ supply chains – core business demand is typically stable, predictable and often recurring providing relatively high visibility of future revenues.

Considerable Technical Expertise And Highly Complex Manufacturing

  • Bespak is a world-leader in valve technology development and manufacture with a strong market position in both pMDI (metered dose inhaler) and DPI (dry powder inhaler) technologies.
  • Bespak is one of only a handful of operators globally with know-how & expertise to consistently deliver high volumes of regulated pharmaceutical components & devices.
  • Aesica offers an end-to-end service with API, development centre and finished dose capabilities.
  • Aesica has mature brands and the ability to manage the complexity of multiple lower volume SKUs.
  • Aesica’s manufacturing capabilities include high capacity, high potency and innovative semi-continuous manufacturing – the only independent CDMO with semi-continuous manufacturing capabilities.

Premium Quality and Regulatory Track Record

  • Operating in a highly regulated industry with quality standards that are world class.
  • Compliance expertise and experience with FDA, MHRA, ANVISA, Russia and Japan regulatory authorities.
  • Bespak manufactures over 2.6 billion components, assembled into more than 500 million devices, annually – one of only a handful of operators globally who have the process know-how and expertise to consistently deliver above Six Sigma quality on such a high volume of medical components and devices.
  • Aesica has made significant investments in facilities and technology with the aim of ensuring “best in class” quality and reliability.

Driven by Innovation

  • Consort Medical remains at the leading edge of innovation and is committed to investing in patient and customer driven innovation with the potential to create new treatments, new markets and new opportunities.
  • Our injectable products include our innovative proprietary Vapoursoft®-powered technologies that continue to generate widespread interest – several pharma/biopharma companies are initiating feasibility & development programmes
  • Capability to produce self-administration of viscous drug formulations – targeting fast growing biologics market.
  • Aesica has benefitted from being an early provider of serialisation services to the pharmaceutical industry in early adopting regions including China and Latin America.
  • With further investment in our serialisation capabilities, Aesica is well advanced in developing the service for the next wave of countries adopting serialisation (including the EU) with flexible solutions that can meet specific territorial regulations

High Barriers to Entry

  • Devices and drug manufacturing sites are defined and licensed as part of the drug master file and, therefore, sourcing is protected.
  • Consort Medical leverages its significant process and production know-how, operating a dual strategy of the contract manufacturing of customer products and, through Bespak, the supply of its own proprietary delivery device technologies, the IP for which is heavily protected.
  • This value delivery to the customer yields attractive margins, whilst affording protection from potential new market entrants.

Strong Cash Generation

  • Long term contracts with clear visibility of customer requirements at agreed pricing levels
  • Established manufacturing facilities and a focus on working capital management
  • Clear priorities for investing in plant and equipment to support future growth
  • Well supported dividend

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