Par Pharmaceutical Completes Acquisition of Edict Pharmaceuticals

Par Pharmaceutical has completed the acquisition of India-based Edict Pharmaceuticals, a developer and manufacturer of generic pharmaceuticals with 11 ANDAs filed with the FDA.

US-based specialty pharmaceutical company Par Pharmaceutical has completed the acquisition of Edict Pharmaceuticals Private Limited, an India-based developer and manufacturer of generic pharmaceuticals.

Par paid $20.5 million at closing and $4.4 million repayment of certain pre-close indebtedness.

Edict is a Chennai, India-based developer and manufacturer of solid oral dosage generic pharmaceuticals with a highly-skilled research and development team and strong product pipeline focused on niche first-to-file, first-to-market products. Edict currently has 11 ANDAs filed with the U.S. FDA.

In connection with the closing of the acquisition, the previously-disclosed