Par Pharma to acquire niche generics producer Anchen for $410 million

Par Pharmaceutical (NYSE: PRX) has entered into a definitive agreement to acquire fellow USA-based Anchen Pharmaceuticals, a privately-held specialty drugmaker focused on developing and commercializing extended release and niche generic products, for $410 million in cash. The transaction, which is expected to complete by year-end, is expected to be immediately accretive to non-GAAP earnings in 2011.

Anchen is a profitable, fully-integrated pharmaceutical company with five commercialized products, 27 Abbreviated New Drug Applications on file with the US Food and Drug Administration, five of which are believed to be first-to-file, and around 26 additional products in development. Anchen anticipates launching eight-10 niche generic products over the next two years. Headquartered in Irvine, California, Anchen has 218 employees and over 72,000 sq ft of expandable manufacturing and warehouse facilities with state-of-the-art equipment.

Will double Par’s product opportunities