Par Closes Acquisition of Generic Company Anchen

Par Pharmaceutical Companies Nov. 17 announced it has completed its acquisition of Anchen Pharmaceuticals, a privately held specialty company that develops and commercializes extended-release and niche generic products.

Anchen, which is based in Irvine, Calif., has five commercialized products, 27 abbreviated new drug applications on file with the Food and Drug Administration, and approximately 26 additional products in development, Par said. Par is based in Woodcliff Lake, N.J.

In August, Par announced it had a definitive agreement to acquire Anchen for $410 million in cash (9 PLIR 1095, 8/26/11).