Perrigo Company has completed the divestiture of its active pharmaceutical ingredient (API) business based in Israel to SK Capital for $110 million. The company is also one of the world’s largest manufacturers of over-the-counter (OTC) healthcare products and suppliers of infant formulas.

“Actions taken as part of this review process have enabled us to simplify, focus and execute on our core businesses. We continue to look at capital deployment opportunities that drive value for shareholders and further our mission of providing quality, affordable healthcare products to consumers around the globe,” said Perrigo’s chief executive officer, John T. Hendrickson.