Generic manufacturer Silarx Pharmaceuticals acquired by Lannett

PHILADELPHIA - Lannett Company on Monday announced that it has signed a definitive agreement to acquire privately held Silarx Pharmaceuticals, a manufacturer and marketer of liquid generic pharmaceutical products. The transaction is expected to close in early June, 2015, subject to customary closing conditions.  

 

"We look forward to welcoming Silarx to the Lannett family," said Arthur Bedrosian, CEO Lannett. "Upon closing, the acquisition will add a high quality, talented research team and manufacturing capacity. In addition, although the acquisition is not expected to have a significant impact on our financial results of operations during the next 12 months, Silarx brings an exciting pipeline and a number of complementary products to our offerings."

 

Strategic benefits of the acquisition include an FDA-approved manufacturing facility, research and development expertise and added diversity to Lannett's portfolio of existing and pipeline products.

 

The Silarx entire senior management team will remain with the combined company and no layoffs or facility closings are planned.

 

The boards of directors of both companies have unanimously approved the transaction.