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news.Par Pharmaceutical, a US based specialty pharmaceutical company, is set to take over niche generic products developer Anchen Pharmaceuticals for $410m.
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Anchen has 27 abbreviated new drug applications (ANDA) pending with the US Food and Drug Administration (FDA).
Anchen expects to roll out around 8-10 niche generic products over the next two years.
Par Pharma chairman, president and CEO Patrick LePore said this transaction accelerates the expansion of the companys research and development infrastructure and reinforces their strategy to provide long-term sustainable growth.
Par Pharma expects to close the transaction by the end of the year.