Actavis To Sell Pharmatech To TPG - Quick Facts

(RTTNews) - Actavis plc (ACT) and TPG, the global private investment firm, have signed definitive deals, under which Actavis would divest to TPG the business currently known as Aptalis Pharmaceutical Technologies (Pharmatech), a pharmaceutical outsourcing and R&D business within Actavis' subsidiary Aptalis operating in the U.S., Canada and Europe. No other Aptalis businesses or products are included in the transaction. No financial terms were disclosed.

By acquiring Pharmatech, TPG plans to use the company as a platform to enter into new partnerships and make additional acquisitions to grow the business. TPG's healthcare practice has invested about $6 billion in equity since 2007, and the firm has executed over 20 carve-outs from major corporations since its founding.

The transaction may close by mid-2015.