Par to acquire JHP

WOODCLIFF LAKE, N.J. — Par Pharmaceuticals Cos. on Tuesday announced that it entered into an agreement to acquire JHP Group Holdings, parent company of JHP Pharmaceuticals.



JHP is a specialty pharmaceutical company that develops, manufactures and markets branded and generic sterile injectable products. It currently markets a portfolio of 14 specialty injectable products, such as Aplisol and Adrenalin.



"The acquisition of JHP immediately expands Par’s presence into the rapidly growing market for injectables. With their high-barrier-to-entry products, JHP represents a perfect complement to Par’s strategy and product line. JHP’s well-respected and experienced management team has built a company with an unparalleled reputation for high-quality products and an impeccable record of regulatory compliance, which has driven their steady revenue growth. We look forward to working with them to grow our combined company," Paul V. Campanelli, CEO Par Pharmaceutical Companies, said.



JHP will become a wholly-owned subsidiary of Par upon closing. Par expects to complete the transaction in the first quarter 2014. Further details regarding the transaction will be included in Par’s 8-K filing.