Aptalis Pharmaceutical Technologies Relaunches as Adare PharmaceuticalsBy
Actavis has completed its divestiture of Aptalis Pharmaceutical Technologies, a pharmaceutical outsourcing and R&D business operating in the US, Canada, and Europe, to TPG, a global private investment firm. With the closing of the deal, the company has announced a new name for the company, Adare Pharmaceuticals. John Fraher, who was president of Aptalis Pharmaceutical Technologies, has been named the CEO.
Aptalis Pharmaceutical Technologies was part of Aptalis, an Actavis subsidiary, which Actavis gained through its $28-billion acquisition of Forest Laboratories, which was completed in July 2014. Forest Laboratories had earlier acquired Aptalis in February 2014. No other Aptalis businesses or products were included in the transaction.
Aptalis Pharmaceutical Technologies has specialized capabilities in areas such as taste-masking and customized drug release with capabilities to support projects from formulation through scale-up and commercial-scale manufacturing.
Source: Adare Pharmaceuticals