Press release from PR Newswire
Par to Acquire 14 Generic Products
Monday, October 15, 2012
Purchase of Products to Be Completed Following Close of Watson's Acquisition of Actavis
WOODCLIFF LAKE, N.J., Oct. 15, 2012 /PRNewswire/ -- Par Pharmaceutical Companies, Inc. today announced that it has entered into agreements with Watson Pharmaceuticals, Inc. (NYSE: WPI) and Actavis Group to purchase for cash five generic products that are currently marketed in the U.S. by Watson or Actavis, eight Abbreviated New Drug Applications currently awaiting regulatory approval and a generic product in late-stage development. The closing of the purchase agreements is contingent upon the closing of Watson's acquisition of Actavis.
The five currently marketed products include morphine sulfate extended release capsules, the generic version of Kadian®, fentanyl transdermal system CII, the generic equivalent of Duragesic®, nifedipine extended release tablets, the generic version of Adalat® CC, diltiazem hydrochloride extended release capsules, the generic equivalent of Cardizem® CD, and metoclopramide hydrochloride tablets, the generic version of Reglan®. Par expects to begin shipping these products to the trade immediately following the closing of the acquisition.
Par Pharmaceutical Companies, Inc. is a privately held, U.S.-based specialty pharmaceutical company. Through its wholly-owned subsidiary's two operating divisions, Par Pharmaceutical and Strativa Pharmaceuticals, it develops, manufactures and markets high barrier-to-entry generic drugs and niche, innovative proprietary pharmaceuticals. For press release and other company information, visit www.parpharm.com.
SOURCE Par Pharmaceutical Companies, Inc.
For further information: Thomas Haughey, President, Par Pharmaceutical Companies, Inc., +1-201-802-4000