Pfizer Inc. (NYSE: PFE) is buying InnoPharama in a deal valued at up to $360 million.

InnoPharma is a pharmaceutical company that owns 10 generic products that are approved by the U.S. Food and Drug Administration. The company's product pipeline includes 19 more products that have been filed with the FDA and more than 30 injectable and ophthalmic drugs in development.

The deal includes an upfront cash payment of $225 million and contingent milestone payments of up to $135 million.

Pfizer says the deal helps it grow its sterile injectables portfolio. Right now, Pfizer has 44 sterile injectable products, and the deal will increase those offerings by 73 products. The company had spent months in a bidding process for AstraZeneca earlier in the year, through May. 

J.P. Morgan was InnoPharma's financial adviser, while Morgan Lewis & Bockius LLP was legal counsel Lowell Dashefsky, Laurie Abramowitz, Jeffrey London, David Barr, Andrews Liivak, Aaron Gardner, Irv Hepner, Viktoriya Karshenboyem, Brian Witkowski, Amanda Myers and Connie Ericson from Kaye Scholer acted as Pfizer's legal advisers for the deal.

Other middle-market pharmaceutical transactions include Greentech's purchase of Seragon Pharmaceuticals Inc. for $725 million in July, and Endo International plc's (Nasdaq: ENDP) acquisition of Dava Pharmaceuticals for $575 million in June.

 

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