SK Capital, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has signed a definitive agreement to acquire Perrigo API, Perrigo Company plc’s (NYSE; TASE: PRGO) active pharmaceutical ingredients business.
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 developer and manufacturer of generic APIs and finished dose forms with operations primarily located in Israel and supporting functions in the U.S. 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.
SK Capital’s acquisition complements other companies that it owns and operates in the API and FDF value chain including Noramco, Tasmanian Alkaloids and Halo Pharmaceutical, all of which will continue to operate independently post-acquisition.
As part of Perrigo API’s strategic vision to become an independent API supplier, four Israeli pharmaceutical executives will be joining the Board of Directors of the Business in partnership with SK Capital: Itzhak Krinsky, Meron Mann, Iftach Seri and Arik Yaari.