SUIR PHARMA in Clonmel, (County Tipperary)-IRELAND

BACKGROUND:

Suir Pharma was an Independent Contract Manufacturer of Generic Medicines (film coated tablets, capsules and powders) for approx. 40 years when it became insolvent in May 2016.

TRANSACTION:

The Provisional Liquidator tried to sell the Suir Pharma Assets as a going concern, when the only interested party dropped out, Hilco purchased the Manufacturing Assets from the Liquidator.

HIGHLIGHT:

When looking for a Buyer, we met with IQ Pharmatek, a conglomerate of Ireland, UK and UAE companies, who decided to purchase all Manufacturing Assets and the Real Estate.

CONCLUSION:

In 2017 IQ Pharmatek reopened the Clonmel site to start contract manufacturing, creating 100 jobs at the old Suir Pharma Plant. This was a good outcome for all parties involved.

Suir Pharma