Navigation Links
Par Pharmaceutical Completes Acquisition of Edict Pharmaceuticals
Date:2/17/2012

WOODCLIFF LAKE, N.J., Feb. 17, 2012 /PRNewswire/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) announced today that it has completed the acquisition of privately-held Edict Pharmaceuticals Private Limited, an India-based developer and manufacturer of generic pharmaceuticals. Par paid $20.5 million at closing and $4.4 million repayment of certain pre-close indebtedness.

Edict is a Chennai, India-based developer and manufacturer of solid oral dosage generic pharmaceuticals with a highly-skilled research and development team and strong product pipeline focused on niche first-to-file, first-to-market products. Edict currently has 11 ANDAs filed with the U.S. FDA.

In connection with the closing of the acquisition, the previously-disclosed lawsuit by a former shareholder of Edict, Gavis Pharma LLC, was settled by the payment of a portion of the closing proceeds to Gavis by an Edict shareholder.

About Par Pharmaceutical Companies, Inc.
Par Pharmaceutical Companies, Inc. is a U.S.-based specialty pharmaceutical company. Through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, it develops, manufactures and markets high barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals. For press release and other company information, visit www.parpharm.com.

Safe Harbor Statement
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent any statements made in this news release contain information that is not historical, these statements are essentially forward-looking and, as such, are subject to known and unknown risks, uncertainties and contingencies, many of which are beyond the control of the Company, which could cause actual results and outcomes to differ materially from those expressed herein. Risk factors that might affect such forward-looking statements include those set forth in Item 1A of the Company's most recent Annual Report on Form 10-K, in other of the Company's filings with the SEC from time to time, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, and on general industry and economic conditions. Any forward-looking statements included in this news release are made as of the date hereof only, based on information available to the Company as of the date hereof, and, subject to any applicable law to the contrary, the Company assumes no obligation to update any forward-looking statements.


'/>"/>
SOURCE Par Pharmaceutical Companies, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Endo Pharmaceuticals to Present at J.P. Morgan Annual Global High Yield & Leveraged Finance Conference
2. Launch of Access Alliance Opens Lines of Communication Between Labor Unions, Health Care Providers, and Pharmaceutical Companies
3. Access Pharmaceuticals MuGard Added to Nationally Ranked Childrens Hospital of Colorado Pharmacy Formulary
4. Questcor Pharmaceuticals Appoints Scott M. Whitcup, M.D., to Board of Directors
5. Omthera Pharmaceuticals, Inc. to Present at Leerink Swann 2012 Global Healthcare Conference and Citi 2012 Global Healthcare Conference
6. Jazz Pharmaceuticals to Announce 2011 Full Year and Fourth Quarter Financial Results on February 27, 2012
7. Vanda Pharmaceuticals Reports Fourth Quarter 2011 and Full Year 2011 Results
8. Pharmaceutical Industry Leveraging New Tools to Overcome Challenges in Market Research
9. Faruqi & Faruqi, LLP Announces Investigation of BioSante Pharmaceuticals, Inc.
10. Ampio Pharmaceuticals Reports Full-Year 2011 Financial Results and Milestone Highlights for 2011
11. Jubilant and Endo Pharmaceuticals Announce Successful Delivery of Early Milestones in Collaborative Discovery Program
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/9/2017)... WASHINGTON , Sept. 8, 2017 ... Mobile MRI Unit coming to Washington DC ... When: Tuesday, September 12 th – Monday, ... to Washington, D.C. offering free MRI brain scans to the public.Where:  ... – will be parked at 501 K Street NW, Washington, D.C.What:BTF brings ...
(Date:9/9/2017)... Sept. 9, 2017  Eli Lilly and Company (NYSE: ... secondary endpoint data for lasmiditan, an investigational, oral, first-in-class ... statistically significant improvements compared to placebo in the Phase ... at the 18th Congress of the International Headache Society ... "The data presented today demonstrate lasmiditan,s potential to reduce ...
(Date:9/7/2017)... 2017  For nearly two decades, New Life Agency has been committed ... industry. Today, New Life Agency announces a powerful three-way partnership designed to ... ... ... http://pharmacarecard.com/ (PRNewsfoto/PharmaCareCard) ...
Breaking Medicine Technology:
(Date:9/21/2017)... ... September 21, 2017 , ... A new addiction ... at a time when Virginia faces an opioid epidemic. , Last ... increase of 38 percent from 2015, underscoring the need for additional addiction treatment ...
(Date:9/21/2017)... Fort Worth, TX (PRWEB) , ... September 21, ... ... top 50 senior housing operators, announces the acquisition of Isle at Kingwood Assisted ... Isle at Kingwood is an established retirement community with 55 assisted living apartments, ...
(Date:9/21/2017)... , ... September 21, 2017 , ... ... the Month, Lewis and Clark College Emeritus Professor of Education Gregory A. Smith ... co-author of Asleep at the Switch: Schoolhouse Commercialism, Privacy, and the Failure ...
(Date:9/20/2017)... ... September 20, 2017 , ... ... of Excellence (CoE) with the latest Artificial Intelligence (AI) thinking, announced today the ... quick and easy access to essential information that offers a more comprehensive understanding ...
(Date:9/20/2017)... (PRWEB) , ... September 20, 2017 , ... ... as one of the Best Places to Work in the Research Triangle for ... Workplace. Once nominated, a company had to meet a threshold in employee participation--a ...
Breaking Medicine News(10 mins):