Actavis to sell off Aptalis Pharmaceutical Technologies to TPG

Actavis has announced that it will be selling off Aptalis Pharmaceutical Technologies, its pharmaceutical outsourcing and research-based subsidiary, to private investment firm TPG.

Part of Actavis' Aptalis business and operating in the United States, Canada and Europe, the division is a leader in pharmaceutical research and development and manufacturing, with specialised capabilities in areas such as taste-masking and customised drug release.

Following the sale, the Aptalis Pharmaceutical Technologies business – also known as Pharmatech – will become a standalone company, with division president John Fraher to act as its chief executive officer.

Actavis has taken this decision to focus on its core areas of strength, and to ensure the company's global operations team is fully concentrated on its existing global supply chain and preparing for the imminent takeover of Allergan.

Robert Stewart, chief operating officer of Actavis, said: "The Pharmatech team has done an exceptional job in meeting its objectives, and I would like to thank them for the tremendous work they have done for Actavis."

The organisation is set to become one of the world's largest healthcare businesses when the Allergan takeover is completed in the coming months.