Deals
J&J Said to Sell Tasmanian Opium-Poppy Processor to SK Capital
- Tasmanian Alkaloids sale expected to be completed by mid-year
- U.S. private equity firm already has contract-drug business
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Johnson & Johnson has agreed to sell an opium-poppy processing business in the Australian state of Tasmania to U.S. private equity firm SK Capital Partners LP, according to a person familiar with the transaction.
A purchase agreement has been signed for Tasmanian Alkaloids Pty Ltd., which processes poppies to extract the active ingredients for morphine and other painkillers, said the person, who asked not to be identified because details of the transaction haven’t been announced. The deal is expected to be completed around mid-year, the person said, without giving the value of the transaction.