Canada's largest pharmaceutical company, Apotex and Searchlight Pharma, one of Canada's fastest growing companies, announced that they have reached an agreement whereby Apotex will acquire Searchlight. 

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.

"Searchlight has an experienced and proven track record as one of Canada's fastest-growing companies with deep institutional knowledge across a range of domestic and international markets and a strong specialty and innovative branded product portfolio," said Allan Oberman, President and Chief Executive Officer at Apotex. "This acquisition is a strategic complement to Apotex's leading market position in generic and biosimilar pharmaceuticals, in alignment with our ongoing focus to expand into the high-value, innovative branded pharmaceuticals sector. We look forward to working with Searchlight's talented team as we plan the integration of our companies and a seamless transition for patients, customers and employees."

Mark Nawacki, Searchlight's President and Chief Executive Officer continued, "For the past decade, Searchlight has successfully pursued its branded pharmaceutical growth strategy by providing dependability and value to Canadian patients and healthcare professionals. Thinking forward to an ambitious future, we know that Apotex is the right partner for Searchlight given our shared purpose of providing access to innovative medicines that improve people's lives. We are confident and excited that joining forces to create a Canadian pharmaceutical champion and global health company will harness a combined passion, scale and talent that will accelerate our plans."

Closing of the transaction is subject to the satisfaction of customary regulatory conditions and expected to occur in the second quarter of 2024.