Par Pharmaceutical acquires Anchen

Par Pharmaceutical Companies, Inc. (NYSE: PRX) today announced that it has completed its acquisition of Anchen Pharmaceuticals, a privately-held specialty pharmaceutical company focused on developing and commercializing extended release and niche generic products.

Headquartered in Irvine, California, Anchen is a profitable, fully-integrated pharmaceutical company with five commercialized products, 27 ANDAs on file with the US FDA, five of which are believed to be first-to-file, and approximately 26 additional products in development. Anchen has approximately 200 employees and over 72,000 sq. ft. of expandable manufacturing and warehouse facilities with state-of-the-art equipment.

The $410 million purchase price was financed with cash on hand and a $350 million term loan.