Lannett Co. said it will acquire Kremers Urban Pharmaceuticals Inc., the U.S. generics unit of Belgian drugmaker UCB SA, for $1.23 billion, adding products for attention-deficit hyperactivity disorder and gastroesophageal reflux.

The acquisition will boost adjusted earnings per share by less than 10 percent in the current fiscal year, which ends next August, and by more than 20 percent the following year, Lannett said Wednesday in a statement. The companies expect to be able to reap $40 million a year in overlapping costs after the third year following the merger, which is slated to close by the end of December.

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