Pharma Focus Europe

Apotex Completes Acquisition of Searchlight, a Canadian-Based Specialty Innovative Branded Pharmaceutical Company

Tuesday, June 04, 2024

Apotex Inc. ("Apotex" or the "Company") is pleased to announce the successful completion of its acquisition of Searchlight Pharma Inc. ("Searchlight"), a prominent Canadian specialty pharmaceutical company. This acquisition represents a significant step forward for Apotex in expanding its presence in the specialty pharmaceutical market, underlining its commitment to providing innovative solutions to patients worldwide. Following the acquisition, Searchlight will operate as the Specialty Pharma Division of Apotex, led by Mark Nawacki, who assumes the role of President.

The integration of Apotex's expertise in generic and biosimilar pharmaceuticals with Searchlight's strong portfolio of specialty and innovative branded products strengthens Apotex's position in the Canadian pharmaceutical industry. Allan Oberman, President and CEO of Apotex, emphasized the strategic importance of the acquisition, stating, "This move aligns with our vision of enhancing patient care by offering a diverse range of high-quality specialty products." He expressed excitement about welcoming Searchlight to the Apotex family and looks forward to leveraging synergies to drive growth.

Apotex celebrated its 50th year in business, a testament to its dedication to improving patient access to affordable medicines. Over the past five decades, Apotex has been committed to addressing unmet medical needs and expanding global access to essential pharmaceuticals. Mr. Oberman reaffirmed Apotex's commitment to this mission, stating, "This acquisition marks a strategic milestone as we continue to diversify our offerings beyond traditional generic pharmaceuticals, positioning Apotex as a leading healthcare partner in the Americas."

 

Source: prnewswire.com

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