Apotex to acquire Searchlight Pharma

Generic drugmaker Apotex has reached an agreement to acquire fellow Canada-based Searchlight Pharma.

Searchlight is a private, top-growth Canadian specialty and innovative branded pharmaceutical company with global reach that executes best-in-class search, acquisition, commercialization, and focused development of innovative and unique specialty branded healthcare products.

Financial terms of the transaction were not disclosed by Apotex, but local newspaper The Globe and Mail, said the deal was worth “$500 million plus”.