Lannett set to acquire Silarx Pharmaceuticals

US drugmaker Lannett Company (Nasdaq: LCI) has signed a definitive agreement to acquire privately held Silarx Pharmaceuticals and a related real estate entity, a manufacturer and marketer of liquid generic pharmaceutical products.

The transaction, financial terms of which were not disclosed, is expected to close in early June, 2015, subject to customary closing conditions. Strategic benefits of the acquisition include an FDA-approved manufacturing facility, R&D expertise and added diversity to Lannett's portfolio of existing and pipeline products. The boards of directors of both companies have unanimously approved the transaction.

"We look forward to welcoming Silarx to the Lannett family," said Arthur Bedrosian, chief executive of Lannett, adding: "Upon closing, the acquisition will add a high quality, talented research team and manufacturing capacity. In addition, although the acquisition is not expected to have a significant impact on our financial results of operations during the next twelve months, Silarx brings an exciting pipeline and a number of complementary products to our offerings."