Specialty drugmaker Par Pharmaceutical Cos., Woodcliff Lake, N.J., announced a definitive agreement to acquire niche generic drug firm Anchen Pharmaceuticals for $410 million in a cash and debt-financed transaction.
Par Pharmaceutical reaches deal to acquire niche drug firm
Anchen, Irvine, Calif., has five commercialized products, 27 applications for generic product development and about 26 products in development, according to a news release from Par. The company plans to launch at least eight generic niche drugs in the next two years.
Par is financing the acquisition with a $350 million term loan and the rest with cash on hand.
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