Thursday, 8 October 2020
Morningside Pharmaceuticals launches ambitious growth plans with new CEO and executive team
Tim Brady, left, is the new CEO at Morningside Pharmaceuticals, while Dr Nik Kotecha OBE, right, has moved to chairman
Medicines manufacturer and supplier Morningside Pharmaceuticals has embarked on a new era of growth after appointing a new CEO and chairman.
Tim Brady has taken up the reins as CEO of the Loughborough company, while founder Dr Nik Kotecha OBE moves into a key strategic role as chairman of the board – after spending 30 years as chief executive.
The new executive team, which will be responsible for enhancing internal systems and processes alongside the board, has also been bolstered by the arrival of chief financial officer Cliff Fung and Monica Huang’s promotion to chief operating officer.
Dr Kotecha, whose focus will also involve supporting his family’s charitable foundation, the Randal Charitable Foundation, said: “Morningside was founded in the 1990s through an entrepreneur’s dream of making quality healthcare an affordable and accessible reality throughout the world.
“Since then, we have grown from a garage start-up to one of the Midlands’ leading life sciences businesses. None of this would have been possible without our excellent people, past and present, who have made Morningside the highly successful business it is today.
“The appointment of the new executive team is a key part of our strategic plans for continuing to grow Morningside into the future. For my part, I am very much looking forward to becoming chairman of the board, which will play a key strategic role in guiding the business’ strategy alongside the new executive team.
“My passion is entrepreneurship and helping businesses grow through investing in innovation, research and development, and exporting to international markets.
“To help support these core areas, I will continue to take on senior regional and national advisory roles. I would very much like to welcome Tim to Morningside, who will take the helm during this exciting new chapter in our company’s history.”
Morningside manufactures and supplies niche generic and branded medicines to the UK and international markets.
This includes twice-daily deliveries to the NHS, hospitals and pharmacies in Britain, as well as supplying vital medicines and healthcare products to charities, non-governmental organisations and international aid agencies worldwide.
Its expansion plans include launching new generic medicines from its R&D pipeline, registering products in international export markets, and further growing its branded and generic medicines portfolio market share in the UK.
Tim Brady joins Morningside Pharmaceuticals as new CEO
New CEO Tim Brady has more than 30 years’ experience of working in senior roles in the pharmaceuticals industry.
His career has led to him building a successful pharma business from the ground up, to being a country and European executive for international life sciences businesses. He also specialises in business development, sales and marketing, and international sales.
“Morningside is built on very solid foundations and is set for an even faster period of growth," he said.
"The leadership team at Morningside is the best in the industry - it has proven that over the past 30 years and the challenge now is to get even better at what we do.
“All the people at Morningside are fully engaged, motivated, knowledgeable and excited about the future and this will be a hugely important advantage for us as we continue to build our reputation as a key supplier to the NHS and international markets.
“Morningside has always had an enviable product pipeline, which is going to produce some important new products in the coming months and years.
“An even sharper focus on speed to market for these products, and stronger relations with our customers and supply chain, will mean patients and doctors will have greater choice of medicines more quickly."
More new additions to executive leadership team
CFO Cliff Fung joins the company with more than 25 years’ experience of working in senior finance roles in pharma, including positions at Aesica Pharmaceuticals, PCI, Catalent and Knoll Pharma.
He said: “Together with my senior managers, we plan to build on Morningside’s strengths, while overseeing and supporting the development and implementation of effective, efficient, flexible and customer-focused approaches to business support and delivery.”
New CFO Cliff Fung and COO Monica Huang
Monica Huang has been promoted to COO, having progressed within the company since starting her career there 12 years ago. She was appointed operations director in 2017 and helped build a structure that grew Morningside into one of Leicestershire’s 100 largest companies today.
She added: “Having worked in almost every department, I am now very much looking forward to taking on an executive position to help deliver the business’ ambitious growth plans for the future.
"This includes continuing to introduce new products to expand our range and delivering a high-quality service, while building on strong relationships with customers and suppliers.”
This story appeared in the Chamber's Business Network October magazine, which is available to view here.Back