Loughrea-based Chanelle Pharma has been sold to a European private equity firm.
It's been announced this morning that Ireland's largest indigenous manufacturer of generic pharmaceuticals has been acquired by Exponent.
The terms of the sale have not been disclosed.
Chanelle was founded in 1985 by Michael H. Burke and employs over 700 people in Ireland, the UK, Europe and Jordan.
Advertisement
Mr. Burke says having dedicated his life to building Chanelle Pharma into a global company, the time is right to allow new owners to lead the company into its next phase of growth.
