Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Par Pharmaceutical Companies Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.