Down But Not Out: Nichi-Iko Hives Off Sagent, Exits North America

Japanese Firm In Process Of Delisting In Tokyo; Purchase Price To Be Decided

Seven years after it paid almost three quarters of a billion dollars for US-based Sagent, troubled Nichi-Iko is offloading the struggling business.

Exit
• Source: Shutterstock

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

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