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) 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
Apple Inc. (AAPL) has scheduled its annual hardware event on Wednesday, September 7, when the tech giant is expected to unveil the most-awaited smartphone of the year-- iPhone 7. Apple has sent out invitation to the media and published the event on its website with a simple title "See you on the 7th." Although,... Starbucks Corp. (SBUX) has opened its first outlet on the island of Trinidad, as the coffee giant continues its Caribbean expansion. The new store is now open in San Fernando, Trinidad's SouthPark Entertainment Complex. Starbucks opened its first store in the Caribbean region in San Juan, Puerto... Conroe, Texas-based Country Fresh LLC., is recalling 30,000 cases of various fresh-cut vegetable products, due to a potential contamination of Listeria. The contamination was discovered during a routine sample taken at a retail store by the Georgia Department of Agriculture, which revealed the finished...
comments powered by Disqus
Follow RTT