Apotex Pharmaceutical Holdings announced that its acquisition by an affiliate of funds advised by 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.
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