Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Par Pharmaceutical To Acquire Anchen | Contract Pharma

What are you searching for?

Sign in
Breaking News

Par Pharmaceutical To Acquire Anchen

Gains portfolio of niche generic products

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

Par Pharmaceutical Companies has entered into a definitive agreement to acquire Anchen Pharmaceuticals, a privately-held specialty pharmaceutical company, for $410 million in cash. 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. Headquartered in Irvine, CA, Anchen has 218 employees and more than 72,000 sq. ft. of manufacturing and warehouse facilities.

Patrick G. LePore, chairman, chief executive officer and president of Par Pharmaceutical Companies, said, “This transaction accelerates the expansion of Par’s R&D infrastructure and reinforces our strategy to provide long-term sustainable growth. Anchen has an excellent development track record and robust product pipeline, which, when combined with Par’s existing capabilities and pipeline, more than doubles our product opportunities.”
 
The acquisition, subject to customary conditions, is expected to close by the end of the year.

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters