Aptalis Pharmaceutical Technologies has announced that its divestiture from Actavis plc to TPG, a Fort Worth- and San Francisco-based global private investment firm, has reached completion.
The company’s new name is Adare Pharmaceuticals, with Aptalis president John Fraher named CEO.
“With the launch of Adare Pharmaceuticals and TPG’s support, we have the vision, resources and talent to expand our pipeline and capabilities, enabling us to establish new and build upon existing partnerships with global pharmaceutical companies,” Fraher said in a news release.
Adare Pharmaceuticals provides medicines designed to meet specific unmet medical needs.
“The team at Adare Pharmaceuticals has a proven track record in developing and manufacturing improved medicines and we see great opportunities in the market for their expertise,” said Todd Sisitsky of TPG.
“We are committed to growing Adare Pharmaceuticals through acquisitions and new product development, and we believe our experience and success in the healthcare industry make us uniquely suited to support the company,” Sisitsky said.