Navigation Links
Par Pharmaceutical To Acquire Anchen Pharmaceuticals
Date:8/24/2011

WOODCLIFF LAKE, N.J., Aug. 24, 2011 /PRNewswire/ -- Par Pharmaceutical Companies, Inc. (NYSE: PRX) announced today that it entered into a definitive agreement to acquire Anchen Pharmaceuticals, a privately-held specialty pharmaceutical company focused on developing and commercializing extended release and niche generic products, for $410 million in cash.  The transaction is expected to be immediately accretive to non-GAAP earnings in 2011.

Anchen is a profitable, fully-integrated pharmaceutical company with five commercialized products, 27 ANDAs on file with the US FDA, five of which are believed to be first-to-file, and approximately 26 additional products in development.  Anchen anticipates launching 8-10 niche generic products over the next two years.  Headquartered in Irvine, California, Anchen has 218 employees and over 72,000 sq. ft. of expandable manufacturing and warehouse facilities with state-of-the-art equipment.

Patrick G. LePore, Chairman, CEO and President of Par Pharmaceutical Companies said, "This transaction accelerates the expansion of Par's research and development infrastructure and reinforces our strategy to provide long-term sustainable growth.  Anchen has an excellent development track record and robust product pipeline, which, when combined with Par's existing capabilities and pipeline, more than doubles our product opportunities."  Mr. LePore continued, "Anchen also shares Par's highly entrepreneurial culture and cost-efficient approach to product development, which should allow for a seamless integration."  

The Company intends to finance the transaction with cash on hand and a $350 million term loan.

The acquisition is subject to customary conditions and approvals.  Par expects to complete the transaction by the end of the year.

AdvisorsPar Pharmaceutical Companies was advised
'/>"/>

SOURCE Par Pharmaceutical Companies
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related medicine technology :

1. Auxilium Pharmaceuticals to Present at the Stifel Nicolaus 2011 Healthcare Conference
2. Valeant Pharmaceuticals Files a Notice of Intention to Make a Normal Course Issuer Bid
3. KalVista Pharmaceuticals Launched With £8 Million in Series A Funding to Develop Novel Class of Drugs for Diabetic Macular Edema
4. Mainor Eglet Attorney, Robert Eglet, Calls Teva Pharmaceuticals Vice President Craig Lea to the Stand in Hepatitis C Trial
5. Endo Pharmaceuticals Announces Leadership Change at HealthTronics Subsidiary: Appoints Kelly Huang, Ph.D. New President
6. Spaulding Clinical Announces Strategic Partnership with Clinigene International, India for Providing Comprehensive Early Clinical Solutions to Pharmaceutical and Biotech Clients
7. Valeant Pharmaceuticals Completes Acquisition of Sanitas Group
8. CoLucid Pharmaceuticals Receives Clearance for Investigational New Drug (IND) Application for Lasmiditan for the Treatment of Acute Migraine
9. Valeant Pharmaceuticals Announces Resignation of Michael Van Every From Valeants Board of Directors
10. Endo Pharmaceuticals Announces Termination of Collaboration with Grunenthal for the Development of Axomadol
11. Savient Pharmaceuticals Announces Publication of Pivotal Phase III KRYSTEXXA® Data in JAMA Demonstrating Significant Benefits in Refractory Chronic Gout Patients
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... 2014  Echo Therapeutics, Inc. (Nasdaq: ECTE ) ... System as a non-invasive, wireless continuous glucose monitoring system, ... Chairman and Interim CEO of Echo Therapeutics, will present ... Conference. Mr. Doman will make a ...
(Date:1/15/2014)... 2014  Valeant Pharmaceuticals International, Inc. (NYSE: VRX ... period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ... by its indirect wholly-owned subsidiary, Sapphire Subsidiary Corp. ("Purchaser"), ... of Solta Medical, Inc. (NASDAQ: SLTM ) ...
(Date:1/14/2014)... 14, 2014 HeartWare International, Inc . (NASDAQ: ... invasive, miniaturized circulatory support technologies that are revolutionizing the ... expects revenues for the fourth quarter of 2013 will ... to approximately $208 million. "Our full-year revenue ...
Breaking Medicine Technology:Echo Therapeutics to Present at the Noble Financial Capital Markets' Tenth Annual Equity Conference 2Echo Therapeutics to Present at the Noble Financial Capital Markets' Tenth Annual Equity Conference 3Valeant Pharmaceuticals Announces Receipt Of Antitrust Clearance For Its Previously Announced Acquisition Of Solta Medical, Inc. 2Valeant Pharmaceuticals Announces Receipt Of Antitrust Clearance For Its Previously Announced Acquisition Of Solta Medical, Inc. 3HeartWare International Announces Preliminary Fourth Quarter 2013 Revenues 2HeartWare International Announces Preliminary Fourth Quarter 2013 Revenues 3HeartWare International Announces Preliminary Fourth Quarter 2013 Revenues 4
... upcoming prestigious Minimally Invasive Surgery Symposium (MISS) will include ... to colon surgery, single-port bariatric surgery, transoral gastroplasty, and ... made today by MISS Executive Director Philip R Schauer, ... faculty. , The five-day CME conference, which will ...
... Calif., Oct. 27 Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX ... teleconference with management to provide a general business overview, as ... Tuesday, November 3, 2009, at 5:00 p.m. Eastern Time (2:00 ... ended September 30, 2009 will be released earlier that day. ...
Cached Medicine Technology:Internationally Renowned Bariatric and Laparoscopic Surgeons To Meet in San Diego 2
(Date:4/18/2014)... a brain-related discovery that could revolutionize doctors, perception ... opens up the possibility that environmental and/or genetic ... activity that the researchers have identified as helping ... Neuroscience has just published a paper about ... of psychology and his doctoral student John Gaspar, ...
(Date:4/18/2014)... could lead to potential new treatments for breaking the ... , Fibrosis, or scarring, is a hallmark of the ... can lead to serious organ damage and, in some ... centers on findings made by Swati Bhattacharyya, PhD, research ... a specific protein plays in promoting fibrosis. , ...
(Date:4/17/2014)... genetic variant specifically associated with the risk of ... per cent of all breast cancer cases. , ... sub-type, called invasive lobular carcinoma, gives researchers important ... kind of breast cancer, which can be missed ... in the journal PloS Genetics , was ...
(Date:4/17/2014)... PLOS Pathogens , children who live in regions ... an immune response to infection with malaria parasites that ... fever and illness and partially control the growth of ... researchers develop future interventions that prevent or mitigate the ... approximately 200 million cases of malaria occur worldwide, resulting ...
(Date:4/17/2014)... Two recent papers by a University of Colorado ... scientists develop treatments or vaccines for Dengue fever, ... other disease-causing flaviviruses. , Jeffrey S. Kieft, PhD, ... the School of Medicine and an early career ... colleagues recently published articles in the scholarly journals ...
Breaking Medicine News(10 mins):Health News:Scientists discover brain's anti-distraction system 2Health News:New clues on tissue scarring in scleroderma 2Health News:First genetic link discovered to difficult-to-diagnose breast cancer sub-type 2Health News:First genetic link discovered to difficult-to-diagnose breast cancer sub-type 3Health News:Study sheds light on how the immune system protects children from malaria 2Health News:CU researchers discover target for treating dengue fever 2
... together nine research groups from seven countries, including teams ... and Israel, has recently been set up with the ... active sensing adopted widely in the animal kingdom, the ... ,whiskered, robotic rat. The whiskered robot will be able ...
... Medical Directions, Inc. (MDI),an independent digital medical education ... education program dealing with the,management of chronic pain ... live lectures by national experts., The study, ... Neurological,Disorders and Stroke (NINDS), was reported February 5, ...
... as better informed patients make ever-increasing demands and expect ... decisions that directly affect their care. In a ... Dr. J. Bohannon Mason of the Orthocarolina Hip and ... changes in society, the population and technology that are ...
... for Second Consecutive Year, STAMFORD, Conn., Feb. ... packaging and marketing process management,service, today announced it ... a,row by the readers of Consumer Goods Technology ... year, Paxonix was recognized with a,Best in Class ...
... Lumenis(R) Ltd. announced,today that it has scheduled a special ... accordance with the Israeli Companies,Law, of a proposed settlement ... against the Company in the federal court in New ... which has been,agreed to in principle by Lumenis and ...
... Financial Team, METAIRIE, La., Feb. 11 ... and dental practices,worldwide, has named Michael P. Beland ... responsible for all aspects of the Company,s,accounting, tax, ... am pleased that we have been able to ...
Cached Medicine News:Health News:Scientists from Europe, Israel and the US develop robotic rats to aid in rescue missions 2Health News:Scientists from Europe, Israel and the US develop robotic rats to aid in rescue missions 3Health News:Inexpensive Online Pain Education Program for Physicians as Effective as Live Presentations by National Experts 2Health News:Doctor who? Are patients making clinical decisions? 2Health News:Paxonix Recognized for Exemplary Support in New Product Development and Implementation 2Health News:Lumenis(R) Seeks Shareholder Approval of Proposed Class Action Settlement 2Health News:Michael Beland Named as OrthoSynetics(TM) Corporate Controller 2
... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
... ARUP Laboratories is a national reference laboratory ... research and development. ARUP offers an extensive ... medical tests in clinical and anatomic pathology. ... Laboratories' clients include more than half of ...
... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
... reference laboratory and a worldwide leader in ... an extensive test menu of highly complex ... anatomic pathology. Owned by the University of ... half of the nation's university teaching hospitals ...
Medicine Products: