Content about Par Pharmaceutical Cos.

January 21, 2014

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

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.

August 20, 2013

The Food and Drug Administration has approved a generic drug for depression made by Par Pharmaceutical, the drug maker said.

WOODCLIFF LAKE, N.J. — The Food and Drug Administration has approved a generic drug for depression made by Par Pharmaceutical Cos., the drug maker said Tuesday.

Par announced the approval of bupropion hydrochloride extended-release tablets in the 300-mg strength. The drug is a generic version of GlaxoSmithKline's Wellbutrin XL and is used to treat major depressive disorder. The company already markets the generic drug in the 150-mg strength.

July 18, 2013

The Food and Drug Administration has approved a cholesterol drug made by Par Pharmaceutical Cos., the drug maker said Thursday.

WOODCLIFF LAKE, N.J. — The Food and Drug Administration has approved a cholesterol drug made by Par Pharmaceutical Cos., the drug maker said Thursday.

Par announced the approval of generic fenofibric acid delayed-release capsules in the 45-mg and 135-mg strengths. The drug is used to reduce triglycerides and increase "good" high-density lipoprotein cholesterol.

The drug is a generic version of AbbVie's Trilipix, which has sales of about $554 million per year, according to IMS Health.

 

May 22, 2013

Generic drug maker Par Pharmaceutical Cos. has started shipping an authorized generic version of a heart-disease medication made by AstraZeneca.

WOODCLIFF LAKE, N.J. — Generic drug maker Par Pharmaceutical Cos. has started shipping an authorized generic version of a heart-disease medication made by AstraZeneca.

Par said it had entered into an agreement with AstraZeneca to supply authorized generic Atacand (candesartan cilexetil) and had begun shipping the drug in the 4 mg, 8 mg, 16 mg and 32 mg strengths. Atacand has annual sales of about $113 million, according to IMS Health, and is used to treat certain kinds of heart failure and high blood pressure in children and adults.

March 14, 2013

The Food and Drug Administration has approved a drug for obsessive compulsive disorder made by Par Pharmaceutical Cos., the drug maker said Thursday.

WOODCLIFF LAKE, N.J. — The Food and Drug Administration has approved a drug for obsessive compulsive disorder made by Par Pharmaceutical Cos., the drug maker said Thursday.

Par announced the approval and shipment of fluvoxamine maleate extended-release capsules in the 100-mg and 150-mg strengths. The drug is a generic version of Jazz Pharmaceuticals' Luvox CR.

January 3, 2013

Par Pharmaceutical Cos. has started shipping two formulations of a generic drug for treating migraines, the company said.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical Cos. has started shipping two formulations of a generic drug for treating migraines, the company said.

Par announced the shipment of rizatriptan benzoate tablets and rizatriptan benzoate orally disintegrating tablets in the 5-mg and 10-mg strengths. The drug is used to treat acute migraine with or without aura in patients ages 6 years and older.

The drug has sales of about $653 million per year, according to IMS Health.

December 18, 2012

Drug maker Merz Pharmaceuticals is suing Par Pharmaceutical over the latter's attempt to market a generic drug for cerebral palsy patients, according to published reports.

NEW YORK — Drug maker Merz Pharmaceuticals is suing Par Pharmaceutical over the latter's attempt to market a generic drug for cerebral palsy patients, according to published reports.

Bloomberg reported that Merz sued Par in the U.S. District Court for the District of Delaware after Par attempted to apply for Food and Drug Administration approval for a generic version of Cuvposa (glycopyrrolate) oral solution, used to treat severe drooling in cerebral palsy patients.

The drug received FDA approval this year, and Merz bought rights to the drug in August.

December 6, 2012

Par Pharmaceutical Cos. has contracted with AstraZeneca to distribute an authorized generic version of a drug used to treat high blood pressure, Par said.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical Cos. has contracted with AstraZeneca to distribute an authorized generic version of a drug used to treat high blood pressure, Par said.

Par announced that it had entered a supply and distribution agreement through subsidiary Par Pharmaceutical to distribute an authorized generic version of Atacand HCT (i.e., candesartan cilexetil and hydrochlorothiazide) tablets.

An authorized generic is a branded drug marketed under its generic name at a discounted price, usually through a third-party company.

November 15, 2012

The year 2012 is coming to an end, and it’s been a big year for 
generic drugs.


The year 2012 is coming to an end, and it’s been a big year for 
generic drugs.


November 15, 2012

The Food and Drug Administration has approved a generic drug for leukemia made by a subsidiary of Par Pharmaceutical Cos.


FDA approves Par leukemia drug
WOODCLIFF LAKE, N.J. — The Food and Drug Administration has approved a generic drug for leukemia made by a subsidiary of Par Pharmaceutical Cos.


Par said Oct. 25 that the FDA had approved Anchen Pharmaceuticals’ tretinoin capsules in the 10-mg strength.


The drug is a generic version of Roche’s Vesanoid, various versions of which have annual sales of about $29 million, according to IMS Health.



 

October 29, 2012

Par Pharmaceutical Cos. has bought rights to a generic version of a drug used to treat bipolar disorder and schizophrenia.

WOODCLIFF LAKE, N.J. – Par Pharmaceutical Cos. has bought rights to a generic version of a drug used to treat bipolar disorder and schizophrenia.

October 25, 2012

The Food and Drug Administration has approved a generic drug for leukemia made by a subsidiary of Par Pharmaceutical Cos.

WOODCLIFF LAKE, N.J. — The Food and Drug Administration has approved a generic drug for leukemia made by a subsidiary of Par Pharmaceutical Cos.

Par said Thursday that the FDA had approved Anchen Pharmaceuticals' tretinoin capsules in the 10-mg strength.

The drug is a generic version of Roche's Vesanoid, various versions of which have annual sales of about $29 million, according to IMS Health.

October 16, 2012

Par Pharmaceutical Cos. has entered into agreements with Watson Pharmaceuticals and Actavis to purchase five generic products currently marketed in the United States by Watson or Actavis, eight abbreviated new drug applications currently awaiting regulatory approval, and a generic product in late-stage development.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical Cos. has entered into agreements with Watson Pharmaceuticals and Actavis to purchase five generic products currently marketed in the United States by Watson or Actavis, eight abbreviated new drug applications currently awaiting regulatory approval, and a generic product in late-stage development.

July 16, 2012

A subsidiary of Par Pharmaceutical Cos. acquired earlier this year has received its first Food and Drug Administration approval.

WOODCLIFF LAKE, N.J. — A subsidiary of Par Pharmaceutical Cos. acquired earlier this year has received its first Food and Drug Administration approval.

Par said Par Formulations received approval from the FDA for labetalol hydrochloride tablets in the 100-mg, 200-mg and 300-mg strengths. The drug, a generic version of Prometheus Labs' Trandate, is used to treat hypertension.

Par acquired Par Formulations, formerly the Chennai, India-based drug maker Edict Pharmaceuticals, in February 2012.

July 16, 2012

An affiliate of private investment firm TPG will acquire Par Pharmaceutical Cos., the drug maker said Monday.

WOODCLIFF LAKE, N.J. — An affiliate of private investment firm TPG will acquire Par Pharmaceutical Cos., the drug maker said Monday.

Par said it had entered into an agreement to be acquired for $1.9 billion. Par shareholders will receive $50 per share, representing a 37% premium over the company's Friday closing price.

April 23, 2012

Par Pharmaceutical has bought rights to a generic drug for gastroesophageal reflux disease from Handa Pharmaceuticals, Par said.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical has bought rights to a generic drug for gastroesophageal reflux disease from Handa Pharmaceuticals, Par said.

Handa, based in Fremont, Calif., sold rights to the regulatory approval application it filed with the Food and Drug Administration for dexlansoprazole capsules, a generic version of Takeda's Dexilant, in the 60-mg strength.

April 6, 2012

Par Pharmaceutical has started shipping its generic version of a drug for sleep disorders, the company said Friday.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical has started shipping its generic version of a drug for sleep disorders, the company said Friday.

Par announced the launch of a generic version of Provigil (modafinil), used to treat such sleep disorders as narcolepsy and work shift sleep disorder.

February 24, 2012

Generic drug maker Par Pharmaceutical has completed its acquisition of an Indian drug company, Par said.

WOODCLIFF LAKE, N.J. — Generic drug maker Par Pharmaceutical has completed its acquisition of an Indian drug company, Par said.

Par announced that it had completed its $20.5 million acquisition of Chennai, India-based Edict Pharmaceuticals.

Edict specializes in oral solid drugs and currently has 11 regulatory approval applications under review at the Food and Drug Administration.


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November 22, 2011

Generic drug maker Par Pharmaceutical has promoted Thomas Haughey to president and Paul Campanelli to COO, the company said. The promotions take effect immediately.

WOODCLIFF LAKE, N.J. — Generic drug maker Par Pharmaceutical has promoted Thomas Haughey to president and Paul Campanelli to COO, the company said. The promotions take effect immediately.

"With the acquisition of Anchen and the pending acquisition of Edict, Par is becoming a larger and more complex organization with three diverse locations and more than 300 additional employees," Par chairman and CEO Patrick LePore said. "These new challenges and opportunities require a president and COO to effectively manage the company and its subsidiaries."

November 18, 2011

Par Pharmaceutical has completed its acquisition of Anchen Pharmaceuticals, the generic drug maker said.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical has completed its acquisition of Anchen Pharmaceuticals, the generic drug maker said.

Par announced plans in August to acquire Irvine, Calif.-based Anchen for $410 million, consisting of a loan and cash it already had.

A privately owned company, Anchen has about 200 employees and more than 72,000 sq. ft. of manufacturing and warehouse space, Par said.

October 18, 2011

Par Pharmaceutical Cos. has acquired the rights to three generic drugs from another company.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical Cos. has acquired the rights to three generic drugs from another company.

Par said it has acquired from Teva Pharmaceutical Industries the abbreviated new drug applications for fentanyl citrate lozenges and cyclobenzaprine ER capsules (generic versions of Actiq and Amrix, respectively), as well as the U.S. rights to market modafinil tablets, the generic version of Provigil. The acquired rights were in connection to Teva's acquisition of drug maker Cephalon, which was completed Friday.

October 10, 2011

The Federal Trade Commission has given Teva Pharmaceutical Industries the green light to acquire Frazer, Pa.-based drug maker Cephalon, but with some restrictions, Teva said.

JERUSALEM — The Federal Trade Commission has given Teva Pharmaceutical Industries the green light to acquire Frazer, Pa.-based drug maker Cephalon, but with some restrictions, Teva said.

Before it can complete the $6.8 billion deal, Teva must sell to Par Pharmaceutical Cos. its generic versions of two Cephalon drugs, namely generic versions of the cancer pain drug Actiq (fentanyl citrate) and the muscle relaxant drug Amrix (cyclobenzaprine), which have combined sales of $298 million per year, according to IMS Health.

August 24, 2011

Par Pharmaceutical Cos. will acquire Anchen Pharmaceuticals for $410 million, Par said Wednesday.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical Cos. will acquire Anchen Pharmaceuticals for $410 million, Par said Wednesday.

Based in Irvine, Calif., Anchen is a privately owned generic drug maker that expects to launch eight to 10 new generic drugs over the next two years. Par plans to finance the acquisition with a $350 million term loan and cash it already has.

August 3, 2011

Par Pharmaceutical had sales of $224.2 million and profits of $9.05 million during second quarter 2011, the drug maker said Wednesday.

WOODCLIFF LAKE, N.J. — Par Pharmaceutical had sales of $224.2 million and profits of $9.05 million during second quarter 2011, the drug maker said Wednesday.

These compared with respective sales and second-quarter profits of $255.5 million and $18.4 million in second quarter 2010.

For the first six months of fiscal year 2011, the company had sales of $435.8 million and a loss of $99.9 million, compared with $537 million in sales and profits of $44.7 million during the first six months of 2010.

 

July 5, 2011

As part of a strategic assessment, generic drug maker Par Pharmaceutical is set to restructure its branded division.

WOODCLIFF LAKE, N.J. — As part of a strategic assessment, generic drug maker Par Pharmaceutical is set to restructure its branded division.

The company said last week that its restructuring of Strativa Pharmaceuticals will result in a reduced workforce, prompting one-time noncash charges in the second quarter in addition to severance costs, although Par said the restructuring will generate expense savings in the $8 to $12 million range for the remainder of the year.