SK Capital completes acquisition of Apotex, a global leader in affordable pharmaceuticals

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Apr 03, 2023, 10:09 ET

Allan Oberman appointed as CEO to transform Apotex into a Canadian-based global health company.

TORONTO, April 3, 2023 /PRNewswire/ - Apotex Pharmaceutical Holdings Inc. ("Apotex" or the "Company") today announced that its acquisition by an affiliate of funds advised by SK Capital Partners, LP ("SK Capital") has closed. The Company also announces that experienced pharmaceutical executive Allan Oberman has been appointed President and CEO and member of the Board of Apotex.

Allan brings four decades of experience in corporate leadership to Apotex, including 20 years in the pharmaceutical industry. Most recently, he served as CEO of Concordia International Corp. and CEO of Sagent Pharmaceuticals Inc. Prior to these positions, he served as President and CEO of Teva Canada (formerly Novopharm Limited), COO of Teva International Group, President of Teva EMIA and President and CEO of Teva Americas Generics. Mr. Oberman has almost three decades of corporate governance experience, having served on numerous boards, including as Chairman of the Canadian Generic Pharmaceutical Association, and Vice-Chairman of the U.S. Association for Accessible Medicines. He has an MBA from the Schulich School of Business, York University, and a BA from Western University.

"As a competitor to Apotex for many years, I am very familiar with the company and have admired its people, long-term track record of innovation and commitment to making medicines affordable to patients in Canada and worldwide," stated Allan Oberman, President and CEO of Apotex. "I'm excited to join the team and build on that legacy."

"We welcome Allan to the Apotex team. His experience leading major Canadian and international pharmaceutical companies and delivering enhanced shareholder value will benefit Apotex as we grow into a Canadian-based global health company," said Aaron Davenport, Chairman of the Board of Apotex and Managing Director at SK Capital. "SK Capital looks forward to working with Apotex as it moves into its next phase of growth, leveraging its iconic brand, broad product portfolio, international presence and skilled team."

Jeff Watson, Apotex's CEO since 2018, will join the Apotex Board of Directors.

"We thank Jeff for his leadership and welcome him to the Board, where we will continue to benefit from his stewardship and counsel," added Mr. Davenport.

About SK Capital

SK Capital is a private investment firm with a disciplined focus on sectors that create the building blocks of modern life and a more sustainable future, including specialty materials, ingredients, and life sciences. The firm seeks to build strong and growing businesses that create substantial long-term economic value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher-performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital's portfolio of businesses generates revenues of approximately USD $16 billion annually, employs more than 20,000 people globally and operates 203 plants in 32 countries. The firm currently has approximately USD $7.2 billion of assets under management. For more information, please visit skcapitalpartners.com.

About Apotex

Apotex is a proudly Canadian, global pharmaceutical company that produces high-quality, affordable medicines for patients around the world. Apotex employs nearly 8,000 people worldwide in manufacturing, R&D, and commercial operations. Apotex exports to more than 100 countries and territories and operates in more than 45 countries, with a significant presence in Canada, the United States, Mexico, and India. For more information, visit www.apotex.com.

SOURCE Apotex Inc.