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Pharmaceutical

Par Pharmaceutical to acquire Anchen Pharmaceuticals

August 30, 2011
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WOODCLIFF LAKE, N.J. — Par Pharmaceutical Companies, Inc. has entered into a definitive agreement to acquire Anchen Pharmaceuticals, a privately-held specialty pharmaceutical company focused on developing and commercializing extended release and niche generic products, for $410 million in cash, according to a press release.

The transaction is expected to be immediately accretive to non-GAAP earnings in 2011.

“This transaction accelerates the expansion of Par''s research and development infrastructure and reinforces our strategy to provide long-term sustainable growth,” said Patrick G. LePore, chairman, CEO and president of Par Pharmaceutical Companies. “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.”
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