Private investment company SK Capital has signed a new definitive agreement to purchase Perrigo Company’s active pharmaceutical ingredients (API) business, Perrigo API.
Perrigo API develops and produces generic APIs and finished dose forms (FDF).
Its operations are mainly located in Israel, and supporting functions are located in the US and India.
Under the deal, the two companies have decided to enter a long-term supply agreement for Perrigo API to deliver multiple existing commercial and pipeline APIs to Perrigo.
SK Capital managing director Aaron Davenport said: “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.”
The current acquisition will complement other major companies that are owned and operated by SK Capital in the API and FDF value chain.
Perrigo API Board of Directors incoming member Iftach Seri said: “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.”
The transaction is expected to conclude during the fourth quarter of this year.