Par Pharmaceutical To Acquire Anchen for $410M

Par Pharmaceutical Companies said it has agreed to acquire privately-held Anchen Pharmaceuticals for $410 million in cash.

Par Pharmaceutical Companies announced Wednesday it has signed a definitive agreement to acquire privately-held specialty pharmaceutical company Anchen Pharmaceuticals for $410 million in cash. The acquisition is expected to close by the end of the year.

Headquartered in Irvine, CA, Anchen develops and commercializes extended release and niche generic products. Anchen has five commercialized products, 27 ANDAs on file with the FDA, and approximately 26 additional products in development. Anchen anticipates launching eight to 10 generic products during the next two years.

Patrick G. LePore, chairman, chief executive officer and president of Par Pharmaceutical Companies, said, "This transaction accelerates the expansion of Par's R&D