SK Capital acquire Perrigo’s API business
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SK Capital to acquire Perrigo's API business

6:52 AM, 14th August 2017
Perrigo is a leading developer and manufacturer of generic APIs and finished dose forms. (File photo)
Perrigo is a leading developer and manufacturer of generic APIs and finished dose forms. (File photo)

NEW YORK, US: SK Capital has signed a definitive agreement to acquire Perrigo API, an active pharmaceutical ingredient (API) business of Perrigo Company plc.

As part of the transaction, the parties have agreed to enter into a long-term supply agreement for Perrigo API to supply multiple existing commercial and pipeline APIs to Perrigo. The transaction is expected to close during Q4 2017, before which a new trade name will be selected and announced for the business.

Perrigo API is a leading developer and manufacturer of generic APIs and finished dose forms (FDF) with operations primarily located in Israel and supporting functions in US and India. The business has a global customer base and a broad array of products that leverage its specialized manufacturing capabilities and core competency in complex chemistries.

Perrigo API is known for its uncompromising commitment to the highest quality and reliability standards and has an exemplary compliance track record.

“Perrigo API is a proven industry leader with strong innovation and manufacturing capabilities and a quality and customer-centric culture. The skills and expertise of the leadership team, dedicated employee-base and the quality of the manufacturing facilities have enabled the business to establish a strong market position,” said Aaron Davenport, managing director at SK Capital.

“We believe tremendous value can be created through further investments in people, company culture, processes and technologies. We look forward to collaborating with the management team and employees to support their continued growth and building a successful working relationship with Perrigo through our long-term supply agreement,” added Iftach Seri, an incoming member of Perrigo API’s board of directors.

RBC Capital Markets LLC and Rothschild acted as SK Capital’s joint buyside advisors, and Kirkland & Ellis LLP and Meitar Liquornik Geva Leshem Tal acted as SK’s legal advisors.

© Chemical Today News

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