Par Pharmaceutical to acquire JHP Pharmaceutical

US privately-held Par Pharmaceutical has entered into a definitive agreement to acquire JHP Group Holdings, the parent company of JHP Pharmaceuticals, a specialty pharmaceutical company that develops, manufactures and markets branded and generic sterile injectable products, headquartered in New Jersey.

The acquisition, the financial terms of which were not disclosed, is subject to customary conditions and approvals. Par expects to complete the transaction in the first quarter 2014.

JHP, which focuses on the fast-growing US sterile injectable drug market, manufactures and sells branded and generic aseptic injectable pharmaceuticals in hospital and clinical settings, and provides contract manufacturing services for global pharmaceutical companies.

JHP has 14 marketed products and 34 in development

JHP currently markets a portfolio of 14 specialty injectable products, including Aplisol (tuberculin PPD, diluted) and Adrenalin, and has developed a pipeline of 34 products, 17 of which have been submitted for approval to the US Food and Drug Administration. JHP has sterile manufacturing facility in Rochester, Michigan, has the capability to manufacture small-0scale clinical through large-scale commercial products.