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.
TYPE OF SALE :
-Private Treaty
EQUIPMENT :
A complete Manufacturing Plant of Generic Medicines, with all Equipment (to produce film coated tablets, hard gelatin capsules and powders for reconstitutions) and Packaging Machinery.
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.
