Following weeks of speculation about the future of Suir Pharma, it's been confirmed that the Clonmel-based company has been sold for an undisclosed sum.
The firm, which produces finished dosage formulations for worldwide customers, employs around 120 people in the South Tipperary town.
Slovakian based Saneca Pharmaceuticals and Mutares AG from Germany has announced they've acquired 100% of the shares.
They say they're confident the acquisition will add significantly to their group – no jobs are expected to be cut as part of the takeover.
Lubo Soltys said they see the 'combined entity providing significantly enhanced pharmaceutical development capacity and tech transfer capabilities across a range of Pharmaceutical forms'
Local management at Suir Pharma, which is located on the N24 Inner Relief Road in Clonmel, say they are delighted with the completion of the sale and are looking forward to growing the business.
