In brief: Perrigo offloads API business for $110m

New contract sees Recipharm and Kancera manufacture clinical trial supply
Credit: Shutterstock.com/ Dmitry Kalinovsky

Perrigo has sold off its active pharmaceutical ingredients business to private investment firm SK Capital for $110 million.

As part of the deal, Perrigo API will supply multiple existing commercial and pipeline active pharma ingredients to Perrigo.

Perrigo API develops and manufacturers generic APIs and finished dose forms (FDF). It has operations in Israel and supporting functions in the US and India.

SK Capital said the deal complements a slew of other businesses in the API and FDF value chain it owns and operates – including Noramco, Tasmanian Alkaloids and Halo Pharmaceutical.

A new trade name will be selected ahead of the deal closing in Q4.