Global private equity investors Advent International and Avista Capital Partners have signed an agreement to acquire Kremers Urban Pharmaceuticals, the US specialty generic pharmaceuticals subsidiary of global biopharmaceuticals company UCB (Euronext: UCB), for $1.525 billion.
The transaction, subject to regulatory approval and other customary closing conditions, is expected to close by the first quarter of 2015.
KU has more than 20 marketed products across a number of indications, including gastroesophageal reflux disease, attention deficit hyperactivity disorder (ADHD), angina/hypertension and respiratory disease. The company said it has established itself as a leading participant in the generic pharmaceuticals sector by focusing on high barrier to entry drugs with characteristics such as extended release formulas, unusual dosage forms such as patches, liquids and injectables and scheduled substances.
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