MacFarlan Smith
MacFarlan Smith was a Scottish pharmaceutical manufacturer specializing in opiate alkaloids and other complex active pharmaceutical ingredients before being rebranded as Veranova in 2022.
Last updated August 31, 2026
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Overview
MacFarlan Smith was a pharmaceutical manufacturing business based in Edinburgh, Scotland, with roots in the city's long-established apothecary and chemical industries. Its corporate history is generally traced to 1815, when John Fletcher Macfarlan took ownership of a family apothecary-supply business and began manufacturing medicinal products, including laudanum. Over the nineteenth and twentieth centuries, the business and several related Edinburgh manufacturers developed expertise in alkaloids, anaesthetics, pharmaceutical chemicals, and medical dressings. The MacFarlan Smith name emerged from the consolidation of several Scottish pharmaceutical and chemical businesses. Important predecessors included J.F. Macfarlan, Duncan Flockhart, and T&H Smith. Their activities encompassed the manufacture of morphine, codeine, diamorphine, chloroform, ether, strychnine, apomorphine, and other specialized substances. The companies also supplied products for military and medical use, including chloroform and morphine during the two world wars, and produced sterile dressings associated with the work of Joseph Lister. T&H Smith contributed several notable innovations to the combined heritage. The company developed pharmaceutical products and chemical materials, discovered aloin, produced morphine injections, and commercialized apomorphine and diamorphine. In the twentieth century, its research also led to denatonium, a highly bitter substance later marketed as Bitrex for use as a safety denaturant in household and industrial products. Another research milestone was the synthesis of etorphine in 1963 by a group led by Professor Kenneth Bentley. In 1962, T&H Smith acquired Duncan Flockhart. The following year, T&H Smith, Duncan Flockhart, and J.F. Macfarlan were combined to form Edinburgh Pharmaceuticals. Glaxo acquired the business in 1965 and renamed it Macfarlan Smith Ltd. The company later underwent a management buyout in 1990 and was floated through the holding company Meconic in 1993. Johnson Matthey acquired Meconic in 2001 and incorporated Macfarlan Smith into its fine chemicals and catalysts-related activities. MacFarlan Smith became particularly associated with opiate alkaloids and the supply of pharmaceutical raw materials. In the late 2000s, the British government permitted the cultivation of opium poppies in the United Kingdom for medicinal purposes, partly in response to rising prices for imported poppy-straw concentrate. The company was linked to domestic cultivation and extraction activities, making it an important participant in the regulated supply chain for morphine and diamorphine. Its position also prompted public-policy discussion about concentration and competition in the UK and global supply of medicinal opiates. In June 2022, Johnson Matthey sold its Health division, including MacFarlan Smith, to Altaris Capital Partners. The business was subsequently rebranded as Veranova. Under the Veranova identity, the former MacFarlan Smith operations became part of a contract development and manufacturing organization serving pharmaceutical and biotechnology customers. The successor business focuses on development and manufacturing of specialist and complex active pharmaceutical ingredients, with facilities in Europe, North America, and Asia. MacFarlan Smith therefore remains historically significant as a name and operating heritage, but it is no longer the current commercial identity of the business.
History
MacFarlan Smith's history developed from Edinburgh's nineteenth-century apothecary trade and the industrial manufacture of pharmaceutical chemicals. The business is associated with 1815, when John Fletcher Macfarlan became owner of a family apothecary-supply operation and acquired an Edinburgh shop. He expanded into manufacturing laudanum, an opium-based medicine, and later formed a partnership with David Rennie Brown. The resulting business produced morphine hydrochloride and medicinal heroin, as well as ether and chloroform. Its work with sterile dressings was connected with Joseph Lister's medical practice. An Abbeyhill chemical works acquired in 1840 supported alkaloid production, while later facilities enabled production of codeine and strychnine. A second major strand of the corporate heritage came from Duncan Flockhart. John Duncan established a chemist's business in Perth before expanding to Edinburgh and forming a partnership with William Flockhart. The company manufactured lactucarium and supplied chloroform to Sir James Simpson. It later supplied chloroform to the British Army, Royal Navy, and British Red Cross. During the First World War, the business established a drug-growing farm at Warriston to strengthen supplies. T&H Smith, founded in Edinburgh in 1827 by Thomas and Henry Smith, provided another important predecessor. It entered pharmaceutical and chemical manufacturing at a site known as Blandfield, developed photographic chemicals, discovered aloin, and worked on beverage flavours as well as medicinal compounds. Its pharmaceutical achievements included early morphine injections, commercial apomorphine, and diamorphine. The company moved its manufacturing operations to New Blandfield Works at Gorgie between 1906 and 1908. During the First World War, it supplied morphine and large quantities of lint-based medical dressings to the British Army. Acquisitions followed, including Glasgow Apothecaries in 1919 and John Mackay Chemicals in 1926, together with related operations in Australia, Canada, and New Zealand. The three strands were brought together during the 1960s. T&H Smith acquired Duncan Flockhart in 1962, and the businesses were combined with J.F. Macfarlan to create Edinburgh Pharmaceuticals. Glaxo acquired Edinburgh Pharmaceuticals in 1965 and adopted the Macfarlan Smith name. Research conducted within the business included the discovery of denatonium while investigating the dental anaesthetic lignocaine in 1958. Denatonium later became commercially known as Bitrex and was used to make household and industrial products unpalatable. In 1963, a research team led by Kenneth Bentley synthesized etorphine, an exceptionally potent opioid. MacFarlan Smith became an independent business through a management buyout in 1990 and was floated on the London Stock Exchange in 1993 through Meconic. Johnson Matthey acquired Meconic in 2001 and absorbed the business into its corporate divisions. The company retained a strong position in opiate alkaloids and supplied pharmaceutical customers with controlled and specialist ingredients. UK authorization of medicinal opium-poppy cultivation in the late 2000s supported domestic supply of poppy-straw material. The arrangement also generated regulatory discussion because of the company's significant role in UK cultivation and the supply of diamorphine. The final major transition occurred in June 2022, when Johnson Matthey sold its Health division to Altaris Capital Partners. MacFarlan Smith was rebranded as Veranova, a contract development and manufacturing organization serving pharmaceutical and biotechnology companies. Its successor operations focus on specialist and complex active pharmaceutical ingredients and operate across Europe, North America, and Asia. The MacFarlan Smith name is consequently best understood as a historical and legacy brand within the continuing Veranova business.
- 2022
Business sold and rebranded as Veranova
[1]Altaris Capital Partners acquired Johnson Matthey's Health division, including MacFarlan Smith, and the business adopted the Veranova name.
- 2006
UK medicinal opium-poppy cultivation authorized
[1]The British government permitted cultivation of opium poppies in the UK for medicinal purposes, supporting domestic access to poppy-straw material.
- 2001
Johnson Matthey acquires Meconic
[1]Johnson Matthey purchased Meconic and incorporated MacFarlan Smith into its wider fine chemicals and catalysts activities.
- 1993
Meconic flotation
[1]The business was floated on the London Stock Exchange through the holding company Meconic.
- 1990
Management buyout
[1]MacFarlan Smith became independent from Glaxo through a management buyout.
- 1965
Glaxo acquires Edinburgh Pharmaceuticals
[1]Glaxo acquired the combined business and renamed it Macfarlan Smith Ltd.
- 1963
Etorphine synthesized
[1]A research group led by Kenneth Bentley synthesized the highly potent opioid etorphine.
- 1962
T&H Smith acquires Duncan Flockhart
[1]The acquisition helped create the corporate structure that was combined with J.F. Macfarlan into Edinburgh Pharmaceuticals.
- 1958
Denatonium discovered
[1]Research undertaken during work on lignocaine led to the discovery of denatonium, later marketed as Bitrex.
- 1887
T&H Smith produces diamorphine commercially
[1]T&H Smith became one of the first companies to produce commercial quantities of diamorphine.
Products and positioning
A Scottish specialist pharmaceutical manufacturer known for regulated opiate alkaloids, complex active pharmaceutical ingredients, and a long history of chemical and pharmaceutical innovation. Its commercial activities continued under the Veranova name after 2022.
Active pharmaceutical ingredients
Opiate alkaloids
Opiate alkaloids were the company's defining specialist area. Its historical manufacturing portfolio included morphine, codeine, diamorphine, and related substances used in regulated medicinal supply chains. The business developed expertise in extraction, purification, and production of controlled pharmaceutical materials and later supplied specialist ingredients to pharmaceutical customers.
Analgesic pharmaceutical ingredients · 1832
Morphine and morphine hydrochloride
MacFarlan's nineteenth-century operations included production of morphine hydrochloride, while the related T&H Smith business developed morphine injections. These products formed part of the companies' long-term expertise in medicinal opiates and helped establish the group's role in pharmaceutical ingredient manufacturing.
Controlled pharmaceutical ingredient · 1887
Diamorphine
T&H Smith began producing diamorphine in commercial quantities in the late nineteenth century. The product later became closely associated with the regulated manufacture and supply of medicinal diamorphine, contributing to MacFarlan Smith's importance in the UK opiate-ingredient sector.
Safety additive
Bitrex
Bitrex is the commercial name associated with denatonium, an intensely bitter compound discovered during research connected with lignocaine. It was developed as a denaturant for industrial alcohol and later used in household products such as liquid detergents to discourage accidental ingestion.
Pharmaceutical contract manufacturing · 2022
Specialist active pharmaceutical ingredients
Under its successor identity, Veranova continues the relevant business heritage through development and manufacturing of specialist and complex active pharmaceutical ingredients for pharmaceutical and biotechnology customers. The offering includes development support and production of difficult-to-manufacture pharmaceutical materials.
Brand decisions
2022
Johnson Matthey sells Health divisionM&ABackground
Johnson Matthey decided to divest its Health division, which included MacFarlan Smith.
Action taken
Altaris Capital Partners acquired the division in June 2022.
Aftermath
The business was reorganized and rebranded as Veranova, ending MacFarlan Smith's use as the principal current commercial identity.
2006
Domestic opium-poppy cultivation supports medicinal supplyStrategyBackground
Increasing global prices for poppy-straw concentrate created concern about the supply and cost of raw material used for medicinal opiate production.
Action taken
The British government permitted UK cultivation of opium poppies for medicinal purposes, with cultivation associated with MacFarlan Smith's supply chain.
Aftermath
The policy supported domestic raw-material supply but led to competition and regulatory discussion about the company's concentrated position in cultivation and diamorphine production.
1990
Management buyout creates an independent MacFarlan SmithStrategyBackground
Following its period under Glaxo ownership, the business was separated through a management buyout.
Action taken
MacFarlan Smith became an independent company and subsequently used Meconic as its listed holding structure.
Aftermath
The business later floated through Meconic in 1993 before being acquired by Johnson Matthey in 2001.
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