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Procaps is under an internal investigation launched by the company's audit committee.

Through the strategic partnership, Procaps will manufacture and Genomma will market and distribute the products, according to the firms.

This is the fifth straight year Procaps has placed first in the annual "innovation ranking," which measures firms in Colombia on their innovation capacity in areas including organizational culture, product innovation, and marketing.

Procaps indicates that the additional facility will expand its production capacity in the US by 1.8 billion softgel capsules.

This transaction values Colombia-based Procaps at approximately $1.1 billion with approximately $160 million in gross cash proceeds.