Par Pharmaceutical Companies Inc. is buying JHP Group Holdings.
JHP, headquartered in Parsippany, N.J., is the parent company of JHP Pharmaceuticals, a specialty pharmaceutical company that develops, manufactures and markets branded and generic injectable products. The company’s medications include Aplisol, which helps diagnose tuberculosis, and Adrenalin, an epinephrine shot. Terms of the deal were not immediately disclosed, but Par says it will file a form with the U.S. Securities and Exchange Commission that will contain more details.
The target is backed by Warburg Pincus, a New York private equity firm. Warburg Pincus bought JHP in December 2012 for $195 million.
For Par, the deal expands its presence into the injectables market. The Woodcliff Lake, N.J.-based buyer develops and markets generic drugs and niche pharmaceuticals through Par Pharmaceutical and Strativa Pharmaceuticals. The company is backed by private equity firm TPG Capital, which has about $55.7 billion in assets under management.
J.P. Morgan Securities LLC provided financial advice to JHP, while Willkie Farr & Gallagher LLP provided legal advice. Ropes & Gray LLP provided legal counsel to TPG and Par on the transaction.
Other recent pharmaceutical deals include Crealta Pharmaceuticals LLC's purchase of bankrupt Savient Pharmaceuticals Inc.'s assets, and JLL Partners' purchase of part of vitamin maker Royal DSM NV.