logo
Share SHARE
FONT-SIZE Plus   Neg

Par Pharmaceutical Closed Acquisition Of Privately Held Edict - Quick Facts

Generic drug maker Par Pharmaceutical Companies Inc. (PRX: Quote) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
Follow RTT