Actavis sells its outsourcing biz to TPG

Actavis ($ACT) is selling its in-house R&D outsourcing company to private equity giant TPG, which has plans for more bolt-on acquisitions. The segment, Aptalis Pharmaceutical Technologies, handles R&D and manufacturing for biopharma clients, specializing in formulation and customized drug release. TPG, a part owner of Quintiles ($Q), now plans to use Aptalis as a platform for growth, signing deals and buying additional companies to raise its profile on the market. More