After weighing up the viability for a rebuild, Japan’s Nichi-Iko is throwing in the towel on its heavily impaired operations in North America. Through an equity purchase agreement, Nichi-Iko will transfer all shares in its US Sagent Pharmaceuticals and Canadian Omega Labs businesses to a company in Singapore controlled via the asset management firm of former Gland Pharma executive Ravi Penmetsa.
A final transfer price for buyer Ellimist Singapore Pte is yet to be decided. Nichi-Iko noted that it would be...
