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 :
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.
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.
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.