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news.Par Pharmaceutical Companies has purchased Edict Pharmaceuticals Private, a manufacturer of generic pharmaceuticals.
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Par has paid $20.5m at closing of the acquisition and $4.4m repayment of certain pre-close indebtedness, the companies said.
At the closing, a lawsuit filed by a former shareholder of Edict, Gavis Pharma, was settled by the payment of a portion of the closing proceeds by an Edict shareholder.
Edict is a Chennai, India-based developer and manufacturer of solid oral dosage generic pharmaceuticals. It currently has 11 ANDAs filed with the FDA.