TPG to buy Par Pharma

NEW JERSEY: A leading global private investment firm, TPG Capitals, has decided to acquire US-based specialty pharmaceutical company Par Pharmaceutical Companies Inc. TPG has entered in an agreement with Par Pharma for the same and plans to acquire it or $1.9 billion.

Par Pharma's Chairman and CEO Patrick G LePore shared, “We are excited about this transaction as it delivers compelling value to our shareholders. While my focus and that of the Par Board of Directors was on shareholder value, we are very pleased that Par will be acquired by TPG, a leading global private investment firm whose substantial resources and healthcare experience will enable Par to continue to invest in its future long-term growth.”

Par Pharma manufactures high-barrier-to-entry generic drugs and proprietary products.