PAI Pharma, an Olympus Partners portfolio company focused on U.S.-made generic medicines, has acquired Nivagen Pharmaceuticals in a move aimed at expanding domestic sterile injectable manufacturing capacity and accelerating development of ready-to-use (RTU) products for the hospital market.
The companies said the transaction adds a newly built, state-of-the-art aseptic manufacturing facility in Sacramento, California, to PAI’s platform and brings a pipeline of more than 20 RTU injectable products. The deal strengthens PAI’s push beyond its core oral liquid franchise and comes as health systems continue to face recurring shortages of critical sterile therapies across the U.S. The purchase price and other financial terms were not disclosed.
PAI, based in Greenville, South Carolina, is known for developing, manufacturing, and marketing oral liquid generic prescription medications. The company said it already distributes sterile injectable medications and has been building a sterile portfolio that includes roughly 10 products in development and four currently on the market. By combining that pipeline with Nivagen’s assets, PAI expects to broaden its hospital-focused offering and increase supply reliability through additional U.S. manufacturing.
Nivagen, headquartered in Sacramento, was founded in 2009 and has invested in advanced aseptic infrastructure designed to support multiple formats commonly used in acute care settings. The Sacramento facility is built to produce IV bags, vials, prefilled syringes, and cartridges—delivery systems that can help reduce preparation steps for clinicians and support standardization in pharmacy operations.
The acquisition also lands amid a broader national push to reshore pharmaceutical production and reduce reliance on foreign supply chains. PAI framed the transaction as aligned with efforts to improve supply-chain resilience and strengthen access to essential medicines, particularly for aseptic sterile products that remain among the most shortage-prone categories in the U.S.
Executives from both organizations positioned the deal as a platform expansion that pairs PAI’s experience in RTU oral liquids—where convenience, consistency, and patient-centric design are central—with Nivagen’s sterile injectable capabilities. Olympus Partners, which backs PAI, said it views the combined business as uniquely positioned to serve hospitals and providers with domestically manufactured medicines needed for patient care.
PAI said the deal adds not only manufacturing infrastructure but also a development engine for complex sterile products, potentially enabling faster progression of RTU injectables through the pipeline and into commercial supply. The company emphasized that expanding U.S. capacity requires sustained investment in skilled labor, advanced production capabilities, and long-term operating readiness—priorities it said the Nivagen facility supports.
The companies also highlighted the Sacramento region’s role in expanding U.S. pharmaceutical manufacturing. Congressman Ami Bera, M.D. (CA-06), pointed to the facility’s potential to support hospital systems and improve patient care through greater access to RTU sterile injectable medicines.
Support: PAI Pharma and Olympus Partners were advised by Bourne Partners, with Kirkland & Ellis LLP serving as legal counsel and KPMG LLP as financial and accounting advisor.
KEY QUOTES:
“PAI is a market leader in RTU oral liquid medicines, and that same focus on quality, reliability, and patient-centric design carries naturally into RTU injectables.”
Kurt Orlofski, CEO, PAI Pharma
“Olympus is proud to continue supporting PAI as it expands into sterile injectables. We believe the combination of PAI’s leadership in RTU oral liquids and Nivagen’s injectable platform creates a unique business that is well-positioned to serve hospitals and healthcare providers with critical, high-quality medicines.”
Griffin Barstis, Partner, Olympus Partners
“This acquisition represents a meaningful investment in American pharmaceutical manufacturing at a time when domestic capacity, reliability, and readiness matter more than ever.”
Jay Shukla, President, Nivagen Pharmaceuticals
“This investment underscores the growing role Natomas and the Sacramento region are playing in strengthening America’s pharmaceutical manufacturing capacity. This state-of-the-art facility is helping expand access to ready-to-use sterile injectable medicines, support hospital systems, and improve patient care. I appreciate PAI’s investment and look forward to working with them to position the Sacramento region for further growth.”
Congressman Ami Bera, M.D. (CA-06)
