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Thursday, May 26, 2011 - 05:30 IST
US-Based Par Pharma Acquires Indian Pharma Co Edict for $37M
BY TEAM VCC
The Chennai-based firm makes solid oral dosage generic pharmaceuticals, targeted at global markets like the USA.
NYSE-listed Par Pharmaceutical Companies Inc. is acquiring privately held Edict Pharmaceuticals, a Chennai-based developer and manufacturer of generic pharmaceuticals, for up to $37.6 million (Rs 170 crore) in cash, in addition to repayment of certain additional pre-close indebtedness.
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