Generic drug maker Par Pharmaceutical Companies Inc. (PRX) said Friday it has completed the acquisition of privately-held Edict Pharmaceuticals Private Limited.
Par, based in New Jersey, said it paid $20.5 million at closing and $4.4 million repayment of certain pre-close indebtedness.
India-based Edict is a developer and manufacturer of solid oral dosage generic pharmaceuticals company, and currently has 11 ANDAs filed with the U.S. FDA.
In connection with the closing of the deal, a 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.
Par Pharmaceutical Companies Inc., is through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, develops high barrier-to-entry generic drugs and innovative proprietary pharmaceuticals.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.