Apotex announces acquisition of Searchlight Pharma
by CM Staff
Searchlight is a private Canadian specialty branded pharmaceutical company with global reach that executes search, acquisition, commercialization, and focused development of specialty branded healthcare products.
TORONTO and MONTRÉAL — Pharmaceutical products manufacturer, Apotex Inc. and Searchlight Pharma Inc., announced that they have reached an agreement whereby Apotex will acquire Searchlight.
Searchlight is a private Canadian specialty branded pharmaceutical company with global reach that executes search, acquisition, commercialization, and focused development of specialty branded healthcare products.
Apotex has leveraged its Canadian footprint into adjacent verticals, and building on its recent transaction with Harrow, Inc. for the exclusive rights to certain branded ophthalmic products, with the addition of Searchlight, is positioned to become a partner for pharmaceutical licensing and acquisition opportunities in the Americas.
“Searchlight has an experienced and proven track record as one of Canada’s fastest-growing companies with deep institutional knowledge across a range of domestic and international markets and a strong specialty and innovative branded product portfolio,” said Allan Oberman, President and Chief Executive Officer at Apotex. “This acquisition is a strategic complement to Apotex’s leading market position in generic and biosimilar pharmaceuticals, in alignment with our ongoing focus to expand into the high-value, innovative branded pharmaceuticals sector. We look forward to working with Searchlight’s talented team as we plan the integration of our companies and a seamless transition for patients, customers and employees.”
Mark Nawacki, Searchlight’s President and Chief Executive Officer continued, “For the past decade, Searchlight has successfully pursued its branded pharmaceutical growth strategy by providing dependability and value to Canadian patients and healthcare professionals. Thinking forward to an ambitious future, we know that Apotex is the right partner for Searchlight given our shared purpose of providing access to innovative medicines that improve people’s lives. We are confident and excited that joining forces to create a Canadian pharmaceutical champion and global health company will harness a combined passion, scale and talent that will accelerate our plans.”
Closing of the transaction is subject to the satisfaction of customary regulatory conditions and expected to occur in the second quarter of 2024. Following close of the transaction, Searchlight’s headquarters will remain based in Montreal and Apotex’s operations will expand within the province of Quebec.
Deutsche Bank Securities Inc. is serving as financial advisor to Apotex and Goodmans LLP is serving as legal counsel. Bloom Burton Securities Inc. is serving as financial advisor to Searchlight, and Davies Ward Phillips & Vineberg is serving as legal counsel.
