Aptalis Pharmaceutical Technologies has announced that its divestiture from Actavis to TPG, a Texas-based global private investment firm, has been completed. The company also announced its new name is Adare Pharmaceuticals, and John Fraher, who was president of Aptalis Pharmaceutical Technologies, has been named CEO. He is joined by key executives from his current management team.

"With the launch of Adare Pharmaceuticals and TPG's support, we have the vision, resources and talent to expand our pipeline and capabilities, enabling us to establish new and build upon existing partnerships with global pharmaceutical companies,” said Fraher. “We are focused on developing medicines that further address the needs of a changing healthcare industry and bring even greater benefits to partners and patients."

Adare Pharmaceuticals’ proprietary technology platforms, R&D capabilities, manufacturing and commercialization experience have resulted in the development of medicines for itself and for its partners that have had commercial success.