Par Pharmaceutical to Acquire Indian Generics Company
Par Pharmaceutical Cos. will acquire India-based generic drugmaker Edict Pharmaceuticals for up to $37.6 million.
Generic drug developer Par Pharmaceutical Companies announced Monday that it will acquire Edict Pharmaceuticals, a generics company based in India, for as much as $37.6 million in cash and the repayment of certain additional debt. The acquisition is expected to be complete by the end of the year.
Privately held Edict Pharmaceuticals develops and manufactures solid oral dosage generic pharmaceuticals. The company currently has seven ANDAs filed with the FDA and one ANDA filed in the name of a development partner, and an additional 14 products in development.
Paul V. Campanelli, president of Par Pharmaceutical, said, “This transaction enhance
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